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Tenant demand is top in South East London

Generation rent looks set to stay. Rather than a trend that took over when house prices in the capital started to lift, becoming a tenant is now a lifestyle choice for many and for some, a permanent way of living in London. In fact, new research by property data company Lonres and analysts Dataloft suggests that one in four homes in the capital is now privately rented. In south east London, the number of properties that fall under the control of a private landlord is closing in on the 25% figure cited in the new report. In Lewisham, the percentage of properties that are in the private rental sector stands at 24.3%, closely followed by 19.8% of properties in Greenwich. Demand for rental property is especially strong in the outlying Greater London neighbourhoods, with properties to rent in south east London especially popular. Figures from property portal Rightmove recently revealed that Sidcup is the most in-demand location for renters in Greater London, followed in second place by Bexleyheath - both Bexley borough locations that fall within the Great London boundary and that are covered by Winkworth's Chislehurst office. In Bexley borough, the percentage of private rental properties stands at just 11.4%. When you consider Rightmove's report that suggests two of the borough's towns are the most popular with tenants across the whole of Greater London, it is clear there is an opportunity for new landlords and existing investors. With the right professional advice, investing in property can provide a good alternative to traditional pensions and cash ISAs. As well as long-term appreciation prospects, a property bought for investment also carries with it the possibility of short-term returns. The latest figures from the most recent HomeLet report revealed that average rents for new tenancies in London were 9.2% higher in May 2015 than the same period last year - giving landlords a better chance to earn some income from the monthly rent. The issue of void periods is also looking positive. Figures from Paragon Mortgages show that void periods in the UK have dropped to their lowest level since 2002 - standing at just 2.4 weeks in the first quarter of 2015, down from 2.6 in the last quarter of 2014. South east London letting agents have also seen evidence of back-to-back tenancies, with a suggestion that in as many as 10% of cases, the old tenant is moving out on the same day as a new tenant is moving in, eliminating a void period altogether. Finally, there has always been debate over whether a rising rental market causes areas and neighbourhoods to have a transient feel.  This train of thought might be losing validity, comment Winkworth. Properties to rent in south east London and across the capital are being lived in for longer, with tenants choosing to put down roots for more than the traditional six to 12 months. In fact, property consultancy firm Allsop found that the average time a tenant stays in a let property is now almost three years - up from 2.5 years in the autumn of 2014.

Generation rent looks set to stay. Rather than a trend that took over when house prices in the capital started to lift, becoming a tenant is now a lifestyle choice for many and for some, a permanent way of living in London.

In fact, new research by property data company Lonres and analysts Dataloft suggests that one in four homes in the capital is now privately rented. In south east London, the number of properties that fall under the control of a private landlord is closing in on the 25% figure cited in the new report. In Lewisham, the percentage of properties that are in the private rental sector stands at 24.3%, closely followed by 19.8% of properties in Greenwich.

Demand for rental property is especially strong in the outlying Greater London neighbourhoods, with properties to rent in south east London especially popular. Figures from property portal Rightmove recently revealed that Sidcup is the most in-demand location for renters in Greater London, followed in second place by Bexleyheath - both Bexley borough locations that fall within the Great London boundary and that are covered by Winkworth's Chislehurst office.

In Bexley borough, the percentage of private rental properties stands at just 11.4%. When you consider Rightmove's report that suggests two of the borough's towns are the most popular with tenants across the whole of Greater London, it is clear there is an opportunity for new landlords and existing investors.

With the right professional advice, investing in property can provide a good alternative to traditional pensions and cash ISAs. As well as long-term appreciation prospects, a property bought for investment also carries with it the possibility of short-term returns. The latest figures from the most recent HomeLet report revealed that average rents for new tenancies in London were 9.2% higher in May 2015 than the same period last year - giving landlords a better chance to earn some income from the monthly rent.

The issue of void periods is also looking positive. Figures from Paragon Mortgages show that void periods in the UK have dropped to their lowest level since 2002 - standing at just 2.4 weeks in the first quarter of 2015, down from 2.6 in the last quarter of 2014. South east London letting agents have also seen evidence of back-to-back tenancies, with a suggestion that in as many as 10% of cases, the old tenant is moving out on the same day as a new tenant is moving in, eliminating a void period altogether.

Finally, there has always been debate over whether a rising rental market causes areas and neighbourhoods to have a transient feel.  This train of thought might be losing validity, comment Winkworth. Properties to rent in south east London and across the capital are being lived in for longer, with tenants choosing to put down roots for more than the traditional six to 12 months. In fact, property consultancy firm Allsop found that the average time a tenant stays in a let property is now almost three years - up from 2.5 years in the autumn of 2014.

If you are interested in becoming a landlord or are looking for a house or flat to rent in south east London, please contact Winkworth south east London letting agents today.

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