Rental demand in London set to remain strong
Hometrack’s latest insight paper reveals that there are two very distinct markets – one in London and another for the rest of the UK, with rents in London broadly double those for a comparable property elsewhere.
With the exception of London, rental growth in 2011 was lower than in 2010 across all regions. Rents in London were up 9.6% in 2011 and although growth has slowed since Q3 it remains stronger than the rest of the UK. The continued growth in the capital’s rents reflect the sheer size of the city, the high cost of buying and the corporate rental sector which drives some of the highest rents in the country. In contrast, demand across other cities is largely domestic, driven by those unable to access owner occupation.
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