Capital ideas

Headlines tend to be dominated by house prices and luxury homes for sale. But estate agents such as Winkworth with property to rent in central London have some great stories to tell when it comes to tenants and lettings. The latest Lonres.com property survey revealed a stabilising central London rental market in 2014, with the supply and demand issues seen in 2013 beginning to even out. Rents have started to increase in prime central London, according to the report, with a 2.1 per cent rise in the first quarter of 2014, compared with the same period in 2013. The strongest growth was seen in the north and central parts of prime London. Zoopla’s latest statistics revealed that flats and houses to rent in central London average at £4,619 per calendar month. Improving economic conditions have also lead to a rise in corporate rental demand, especially in the low-to-mid price thresholds. Dovetailing with the latest Lonres.com research are the findings of the Property Academy’s Landlord & Tenant Survey. This reveals behaviour traits and client thinking in the lettings sector. Around 67 per cent of tenants had never owned or had a mortgage on a property, while 59 per cent felt they had no choice but to rent. Around 27 per cent of tenants could not afford to buy a property and 13 per cent didn’t want to. Here at Winkworth, we were heartened by the response to a question about personal endorsement. Some 84 per cent of landlords said they would recommend their letting agent, and so would 70 per cent of tenants. Don’t get left behind… The survey also asked landlords to describe the weirdest objects left behind by outgoing tenants. These included: A Range Rover languishing in a parking space; a full-size treadmill; a crate of champagne and a toupee in a biscuit tin. You can read more on our property blog here. And don’t forget to visit our website for a wealth of information on buying, marketing or renting a property in the New Year. That way, you can make sure you don’t get left behind in 2015!