In traditional areas such as Hampstead, Highgate and Knightsbridge, an acute shortage of good quality housing stock remains and we would urge landlords to look at their properties to consider a refurbishment pre-Spring \u00a0so their property remains competitive in the local market. These areas carry a certain cach\u00e9 and still remain popular but rents can be affected if properties are not offered in pristine condition.<\/p>\n
Central London<\/strong><\/h2>\n![\"IW2\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2016\/02\/IW2.jpg\")
3 bed flat at Imperial Wharf, SW6 \u00a31,380 per week<\/figcaption><\/figure>\nOur\u00a0Knightsbridge<\/a>\u00a0<\/strong>office is extremely\u00a0busy, handling enquiries mainly for one and two bedroom properties, and taking \u00a0taking on a number of new\u00a0instructions. Equally good news is the number of people renewing tenancies which remains high at 80%. Tenants are prioritising stability, choosing to remain in their current property to save the expense and inconvenience of moving \u2013 good news for landlords as it eliminates expensive voids. Smaller properties below \u00a3675 per week are in highest demand as applicants usually have firm budgets.\u00a0 As well as younger professionals looking for one bedroom properties, we are seeing growing demand from senior executives looking for a reasonably priced pied-a-terre. Experienced landlords recognise the need for flexibility on rents in this competitive market.\u00a0 They understand that the reliability of a tenant and the length of a tenancy are as, if not more important, than holding out for a higher rent, ensuring a faster let and continuity of income.<\/p>\nWe continue to see steady rental demand in and around Hyde Park<\/a> and the W2 postcode, with enquiries for well-priced and well-presented rental accommodation. Properties are renting quickly\u00a0with many\u00a0applicants planning for a move by the end of\u00a0March. We are also seeing a lot of young professionals and couples upgrading, giving notice on their current property to rent something larger.<\/p>\nThe rental market is steady in Kensington <\/a>but we are seeing a trend\u00a0where\u00a0quite a few tenants delay their\u00a0decision to move\u00a0home until after the EU Referendum in June. As a result, the number of tenancy renewals taking place is up, at around 80%, as tenants opt for security and stability. This is good news for landlords as retaining their current tenant means voids can be eliminated ensuring continuity of rental income, while usually a modest increase in rent can be achieved, in line with RPI.<\/p>\nBusiness is brisk at our Ealing <\/a>office, with apartments at Dickens Yard and Arc Tower in particularly high demand. Young professionals are\u00a0searching for one bedroom properties and we do have shortages of smaller properties in some developments. Applicants have good budgets so most properties are achieving close to asking rental. We are also busy with enquiries from corporate tenants and are continuing to see a rise in the number of Japanese executives relocating to London.<\/p>\nThe last few weeks have been very busy at our Hammersmith\u00a0office<\/a> and enquiry levels are strong.\u00a0 Apartments at Distillery Wharf in particular are in high demand and applicants often see the facilities, the riverside location and simply fall in love with the development. To cope with demand,\u00a0we have new instructions coming in regularly. The apartments are especially popular with young professionals and we are seeing a high number of\u00a0corporate tenants relocating here from overseas.<\/p>\nDemand at Imperial Wharf<\/a> is as high as ever with one, two and three bedroom properties all letting quickly. We find that many professionals relocating to London actually request specifically that they would like to live in this development. Interest in neighbouring Chelsea Creek<\/a> is also high and properties here usually let almost as soon as we receive an instruction.<\/p>\nCity, Canary Wharf, Docklands and East London<\/strong><\/h2>\n![\"City\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2016\/02\/City.jpg\")
2 bed flat in Goodman’s Fields, E1 \u00a3750 per week<\/figcaption><\/figure>\nThe City <\/a>rental market is buoyant, with business up compared to the same period last year. Rental demand is particularly high for one bedroom apartments which offer good value for young professionals. New developments such as Goodman Fields are popular and we continue to receive plenty of enquiries for older developments such as Avant Garde<\/a>, Cityscape<\/a>, Pegaso <\/a>and City Quarter. Generally, applicants are looking for good amenities (a gym, spa and pool), a concierge and a location close to a tube or DLR station or within walking distance of their office.<\/p>\nWith many applicants prioritising value for money, there is also a continuing push eastwasrds to find high-spec accommodation for a lower rent than in the City. Our\u00a0Canary Wharf<\/a>\u00a0office has received a number of instructions in new developments in and around E14 recently so we have good availability of stock to meet this demand, many at asking rentals of \u00a3325-\u00a3425 per week for a one bedroom apartment, which is a good price point for young professionals.<\/p>\nOur Surrey Quays<\/strong> office<\/a> at Marine Wharf remains very busy and the launch of Royal Victoria Gardens phase has attracted a lot of enquiries. One bedroom apartments are achieving \u00a3350 – \u00a3360 per week and two bedroom properties at \u00a3420 – \u00a3440 per week.\u00a0 In Wapping<\/a><\/strong>, the development currently generating a lot of interest is Wapping Riverside which is about to launch \u2013 a stunning building with apartments featuring floor-to-ceiling windows, many overlooking the River Thames. Among the properties we have let here recently is a two bed apartment for \u00a3795 per week.<\/p>\nLast but not least, rental demand in the historic Royal Borough of Greenwich <\/a>remains as high as ever and as soon as a new development or phase of apartments launches we receive a very positive response from applicants. New Capital Quay<\/a> is still one of our most popular developments while the new Granite Apartments are also generating plenty of interest.<\/p>\nNorth West<\/strong> London<\/strong><\/h2>\n![\"Hampstead\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2016\/02\/Hampstead.jpg\")
1 bed flat on Flask Walk, Hampstead \u00a3530 per week<\/figcaption><\/figure>\nAs usual, rental demand is high at Beaufort Park<\/a> in Colindale, with translations up\u00a070% on the same period last year.\u00a0 This is due in part to the January launch January of the Constantine apartments which are attracting a great deal of interest from applicants. One bedroom apartments remain the most popular but enquiries are also picking up for two bedroom apartments. A one bedroom apartment is currently achieving \u00a3320 – \u00a3330 per week and a two bed \u00a3410 – \u00a3420 per week. The development\u2019s reputation is no longer limited to London professionals and we are seeing increasing numbers of enquiries from applicants relocating to London from Europe. Budgets are good and most apartments are achieving close to asking rental. Tenancy renewals are also high as many tenants are remaining in their current property rather than incur the expense and inconvenience of moving unless it is absolutely\u00a0necessary.<\/p>\nProperties are letting quickly in Highgate <\/a>and levels are\u00a0up around 30% year on year.\u00a0 There is good demand for all types of property, as long as it is reasonably priced, from one and two bedroom apartments to larger family homes. With properties letting quickly we are actively seeking new instructions from landlords.<\/p>\nRental demand is really picking up in Hampstead <\/a><\/strong>and the last few weeks has seen a high number of enquiries.\u00a0 One bedroom apartments have been flying off the shelf while there is very good demand for two bedroom properties too.\u00a0 We are also receiving quite a few enquiries for luxury, high end homes but have a shortage of this type of property at the moment.<\/p>\n
Our\u00a0Knightsbridge<\/a>\u00a0<\/strong>office is extremely\u00a0busy, handling enquiries mainly for one and two bedroom properties, and taking \u00a0taking on a number of new\u00a0instructions. Equally good news is the number of people renewing tenancies which remains high at 80%. Tenants are prioritising stability, choosing to remain in their current property to save the expense and inconvenience of moving \u2013 good news for landlords as it eliminates expensive voids. Smaller properties below \u00a3675 per week are in highest demand as applicants usually have firm budgets.\u00a0 As well as younger professionals looking for one bedroom properties, we are seeing growing demand from senior executives looking for a reasonably priced pied-a-terre. Experienced landlords recognise the need for flexibility on rents in this competitive market.\u00a0 They understand that the reliability of a tenant and the length of a tenancy are as, if not more important, than holding out for a higher rent, ensuring a faster let and continuity of income.<\/p>\n We continue to see steady rental demand in and around Hyde Park<\/a> and the W2 postcode, with enquiries for well-priced and well-presented rental accommodation. Properties are renting quickly\u00a0with many\u00a0applicants planning for a move by the end of\u00a0March. We are also seeing a lot of young professionals and couples upgrading, giving notice on their current property to rent something larger.<\/p>\n The rental market is steady in Kensington <\/a>but we are seeing a trend\u00a0where\u00a0quite a few tenants delay their\u00a0decision to move\u00a0home until after the EU Referendum in June. As a result, the number of tenancy renewals taking place is up, at around 80%, as tenants opt for security and stability. This is good news for landlords as retaining their current tenant means voids can be eliminated ensuring continuity of rental income, while usually a modest increase in rent can be achieved, in line with RPI.<\/p>\n Business is brisk at our Ealing <\/a>office, with apartments at Dickens Yard and Arc Tower in particularly high demand. Young professionals are\u00a0searching for one bedroom properties and we do have shortages of smaller properties in some developments. Applicants have good budgets so most properties are achieving close to asking rental. We are also busy with enquiries from corporate tenants and are continuing to see a rise in the number of Japanese executives relocating to London.<\/p>\n The last few weeks have been very busy at our Hammersmith\u00a0office<\/a> and enquiry levels are strong.\u00a0 Apartments at Distillery Wharf in particular are in high demand and applicants often see the facilities, the riverside location and simply fall in love with the development. To cope with demand,\u00a0we have new instructions coming in regularly. The apartments are especially popular with young professionals and we are seeing a high number of\u00a0corporate tenants relocating here from overseas.<\/p>\n Demand at Imperial Wharf<\/a> is as high as ever with one, two and three bedroom properties all letting quickly. We find that many professionals relocating to London actually request specifically that they would like to live in this development. Interest in neighbouring Chelsea Creek<\/a> is also high and properties here usually let almost as soon as we receive an instruction.<\/p>\n The City <\/a>rental market is buoyant, with business up compared to the same period last year. Rental demand is particularly high for one bedroom apartments which offer good value for young professionals. New developments such as Goodman Fields are popular and we continue to receive plenty of enquiries for older developments such as Avant Garde<\/a>, Cityscape<\/a>, Pegaso <\/a>and City Quarter. Generally, applicants are looking for good amenities (a gym, spa and pool), a concierge and a location close to a tube or DLR station or within walking distance of their office.<\/p>\n With many applicants prioritising value for money, there is also a continuing push eastwasrds to find high-spec accommodation for a lower rent than in the City. Our\u00a0Canary Wharf<\/a>\u00a0office has received a number of instructions in new developments in and around E14 recently so we have good availability of stock to meet this demand, many at asking rentals of \u00a3325-\u00a3425 per week for a one bedroom apartment, which is a good price point for young professionals.<\/p>\n Our Surrey Quays<\/strong> office<\/a> at Marine Wharf remains very busy and the launch of Royal Victoria Gardens phase has attracted a lot of enquiries. One bedroom apartments are achieving \u00a3350 – \u00a3360 per week and two bedroom properties at \u00a3420 – \u00a3440 per week.\u00a0 In Wapping<\/a><\/strong>, the development currently generating a lot of interest is Wapping Riverside which is about to launch \u2013 a stunning building with apartments featuring floor-to-ceiling windows, many overlooking the River Thames. Among the properties we have let here recently is a two bed apartment for \u00a3795 per week.<\/p>\n Last but not least, rental demand in the historic Royal Borough of Greenwich <\/a>remains as high as ever and as soon as a new development or phase of apartments launches we receive a very positive response from applicants. New Capital Quay<\/a> is still one of our most popular developments while the new Granite Apartments are also generating plenty of interest.<\/p>\n As usual, rental demand is high at Beaufort Park<\/a> in Colindale, with translations up\u00a070% on the same period last year.\u00a0 This is due in part to the January launch January of the Constantine apartments which are attracting a great deal of interest from applicants. One bedroom apartments remain the most popular but enquiries are also picking up for two bedroom apartments. A one bedroom apartment is currently achieving \u00a3320 – \u00a3330 per week and a two bed \u00a3410 – \u00a3420 per week. The development\u2019s reputation is no longer limited to London professionals and we are seeing increasing numbers of enquiries from applicants relocating to London from Europe. Budgets are good and most apartments are achieving close to asking rental. Tenancy renewals are also high as many tenants are remaining in their current property rather than incur the expense and inconvenience of moving unless it is absolutely\u00a0necessary.<\/p>\n Properties are letting quickly in Highgate <\/a>and levels are\u00a0up around 30% year on year.\u00a0 There is good demand for all types of property, as long as it is reasonably priced, from one and two bedroom apartments to larger family homes. With properties letting quickly we are actively seeking new instructions from landlords.<\/p>\n Rental demand is really picking up in Hampstead <\/a><\/strong>and the last few weeks has seen a high number of enquiries.\u00a0 One bedroom apartments have been flying off the shelf while there is very good demand for two bedroom properties too.\u00a0 We are also receiving quite a few enquiries for luxury, high end homes but have a shortage of this type of property at the moment.<\/p>\nCity, Canary Wharf, Docklands and East London<\/strong><\/h2>\n
North West<\/strong> London<\/strong><\/h2>\n