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<\/a>We have good availability of stock and have been receiving new instructions daily.\u00a0 This is because, as well as having local branches throughout London, we have experienced branch managers who have developed good working relationships with landlords over the years.\u00a0 These landlords are turning to us to help steer them through this difficult time as they trust our advice and years of experience.\u00a0 And we are confident that this difficult situation will ease \u2013 after all, a third of Londoners now rent and they all need a roof over their head!\u00a0 Of course, flexibility is key right now and a landlord\u2019s priority should be to keep their property tenanted, even if that means accepting a lower rent than they had expected.<\/p>\n
The rental market is changing almost day by day at the moment and we are keeping you updated regularly with our Property Market<\/a> blogs.\u00a0 But if you would like to talk to your local Benham & Reeves manager about market conditions in your area, please do not hesitate to get in touch with them via our Contact page<\/a>.<\/p>\n Clearly, the pandemic is having a huge impact on demand from international students and the numbers we are seeing right now are down.\u00a0 At the moment there has been little guidance from London universities as to how the next academic year will progress. \u00a0This would normally be our busiest time of the year and, while we are starting to see some enquiries from international students planning to move to London soon, but the numbers are significantly less than last year.\u00a0 International students already studying and living in London are making enquiries about moving to new rental properties, and like other applicants, are requesting more affordable properties which will allow them to save money. A fast Broadband connection is also high on their wish-lists.<\/p>\n Our City and East London<\/strong> branches have reported an upturn in enquiries from students over the last couple of weeks and we will keep you informed as to how this develops.\u00a0 Generally, we are expecting demand across east London to increase throughout August, September and October and are definitely seeing renewed interest from applicants.\u00a0\u00a0 We have also started to see a few enquiries from relocation agents recently.\u00a0 Many applicants are reassessing their priorities, with more space and excellent broadband speeds a priority, to allow them to work from home.<\/p>\n With stock levels high though, rents are softening in the City, Wapping and Canary Wharf<\/strong>.\u00a0 Many providers of short let rental accommodation in the City and Canary Wharf have decided to let their properties on a long-let basis instead so there is a surplus of rental accommodation which is adding to the problem.\u00a0 It is therefore essential for landlords to negotiate and remain flexible when discussing terms with potential tenants.<\/p>\n One exception to this is Surrey Quays<\/strong> where rents have remained stable.\u00a0 The development is extremely popular and already offered good value to renters – there is less availability here so stock has held its value.<\/p>\n In central London, staff at our Hyde Park, Kensington and Knightsbridge<\/strong> branches are receiving a lot of enquiries, with many physical viewings taking place, but most applicants are looking for a good deal and do expect landlords to negotiate \u2013 they will look elsewhere if they cannot negotiate a better deal.\u00a0\u00a0 They may take up to two weeks to decide on a property while they compare it to others that are similar.\u00a0 Lower priced apartments (\u00a3200 – \u00a3280 per week) are letting most quickly while two bed apartments that can be shared by two professionals to reduce costs (\u00a3550 – \u00a3800 per week) are also letting well.<\/p>\n Our branches in central London have started to receive a few enquiries from students, many of whom are already living in London and some from relocation agents who are searching for corporate tenants from the US, Australia and South East Asia \u2013 clearly though the numbers are nothing like as high as usual.<\/p>\n In West London, properties are letting in popular developments such as Dickens Yard Ealing and Kew Bridge Brentford<\/strong> and we are picking up new instructions too.\u00a0\u00a0 We have been finding homes for several Japanese professionals already living in London and who have been looking to move home, perhaps because their current apartment is too small and in one case because the applicant was moving from Scotland to London.\u00a0 We are also working with several Japanese professionals who are arriving in London over the next couple of weeks and looking for high spec rental accommodation in West London.\u00a0 \u00a0At Fulham Reach<\/strong> in Hammersmith, rental demand is slowly starting to pick up with affordably priced one bed flats (\u00a3475 – \u00a3500 per week) letting most quickly.\u00a0 Again accurate pricing is essential to ensure a flat lets as quickly as possible.<\/p>\n The rental market in Hampstead and Highgate remains slow and there is quite a shortage of stock here as many tenants are choosing to stay in their current property rather than move. If you have a property in these areas and are experiencing a void period, it could be a good time to freshen up the property and we can advise if you need help with fresh furnishings<\/a> or basic refurbishment<\/a>.<\/p>\n Our Beaufort Park Colindale <\/strong>branch is seeing rental demand improve after a sluggish few months because of Covid-19. Much of the demand at the moment is from international students and this has yet to pick up.\u00a0 During the summer months, we would usually have waiting lists for smaller units and we expect the situation will become clearer over the next few weeks.<\/p>\n If you have a property becoming available soon for rental and would like an up to date appraisal of what rent you can expect, why not ask us for a\u00a0valuation<\/a><\/span>. Or talk to one of our branches.\u00a0Contact us<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The London rental market remains challenging but we are starting to receive greater numbers of enquiries from applicants looking to move home.\u00a0 Most of these applicants are professionals already living in London and wishing to move locally. But we have seen a dramatic drop in enquiries for properties in the city district as 90% of … <\/p>\nRental demand from international students<\/h2>\n
Rental demand across our 16 London lettings branches<\/h2>\n
The City and East London<\/h2>\n
![\"\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2020\/07\/Capture-1-300x185.png\")
<\/a>Central London<\/h2>\n
West London<\/h2>\n
![\"\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2020\/07\/dickens-yard-300x195.png\")
<\/a>North & North West London<\/h2>\n