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January will be the start of the prime property lettings season in London, kick starting...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-310","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-50","jetpack-related-posts":[{"id":53175,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-rents-fall-sharply-as-monthly-bill-drops-across-uk\/","url_meta":{"origin":310,"position":0},"title":"London rents fall sharply as monthly bill drops across UK","date":"April 28, 2017","format":false,"excerpt":"\r Lettings agents say new tenants in capital are paying \u00a3100 per month less than a year ago, with demand from tenants falling, possibly because of Brexit voteRents in London have fallen sharply, with new tenants in the capital typically paying almost \u00a3100 a month less than their counterparts a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20784,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rents-fall-as-landlords-remain-nervous-over-brexit\/","url_meta":{"origin":310,"position":1},"title":"Rents fall as landlords remain nervous over Brexit","date":"July 25, 2016","format":false,"excerpt":"\r Letting market hit by uncertainty over the future of Britain\u2019s role in Europe, but London continues to benefit from high demand for homesAlmost half of lettings agents are reporting nervous landlords following Brexit, with 12% reporting asking rents have fallen over the past 10 days.In a report published on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38622,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-prime-home-rents-down-3-3-in-q3\/","url_meta":{"origin":310,"position":2},"title":"Singapore prime home rents down 3.3% in Q3","date":"December 20, 2016","format":false,"excerpt":"\r Prime residential rents continue to weaken in Singapore. Prime residential rents in Singapore fell by 3.3 percent during the third quarter of 2016, while prime rental performance across the 17 global cities tracked by Knight Frank registered zero percent growth in the year to September. \u201cDespite this slowdown in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/12\/Knight-Frank-Global-House-Price-Index.jpg?fit=568%2C503&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-across-the-globe-are-at-their-lowest-in-5-years\/","url_meta":{"origin":310,"position":3},"title":"Luxury rents across the globe are at their lowest in 5 years","date":"December 25, 2015","format":false,"excerpt":"\r Even London has slipped from first place Guangzhou took the top spot Knight Frank recently released its\u00a0Prime Global Rental Index for Q3 2015, revealing that luxury residential rents across the world fell by 0.9 percent in the year to September, the index\u2019s weakest performance in five years. The index\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2015\/12\/knight-frank-global-prime-rents-1024x681.jpg?fit=1024%2C681&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/prime-london-rents-exceed-100-a-day\/","url_meta":{"origin":310,"position":4},"title":"Prime London rents exceed \u00a3100 a day","date":"June 29, 2015","format":false,"excerpt":"\r The average rent on a two-bedroom flat is \u00a3707 a week, says property investment firm, with corporate demand and international students fuelling a rise in prices Tenants in London\u2019s most upmarket neighbourhoods are paying more than \u00a3100 a day to rent two-bedroom flats, as increasing numbers of students and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47857,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-average-annual-rents-fall-for-first-time-in-six-years\/","url_meta":{"origin":310,"position":5},"title":"UK average annual rents fall for first time in six years","date":"March 13, 2017","format":false,"excerpt":"\r Buying frenzy ahead of 2016 stamp duty hike pushed up supply of new homes for letting by 10%, Countrywide figures show Rents in Britain have recorded their first annual drop for six years, according to the UK\u2019s biggest estate and lettings agency.In February, the average rent in Britain was\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/310"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=310"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/310\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n January will be the start of the prime property lettings season in London, kick starting a recovery in top end rents in 2016, according to a new outlook report.Throughout 2015, the pace of rent rises in London slowed, and weaker activity at the top tiers of the lettings market in particular have created a difficult climate for rent growth, says the report from estate agents Marsh & Parsons. However, the firm is predicting a rental resurgence in 2016, forecasting prime London rents to rise 5% in the next 12 months, a significant uplift from a the 1.9% rise in the past year. While rents at the highest tiers of the market, namely over \u00a3750 per week, are unlikely to experience major pick up, rental prices below this benchmark have significant room to grow. And much of this growth will come at the very start of the year, with January typically the strongest month outside of the summer for lettings activity. Over the past three years, there has been on average a 34% monthly boost in lettings exchanges from December to January, as people use the New Year for fresh starts. \u2018Come January, households will be picking up where they left off on big life decisions \u2013 be this downsizing, starting a new job, relocating overseas or even separating. All of these combine to give new impetus to the rental market at the very start of the year, and it\u2019s a time when we experience some of our most zealous lettings activity,\u2019 said Patrick Littlemore, director of lettings at Marsh & Parsons.\u2018This initial activity will feed into stronger and more sustained rent growth throughout 2016 as a whole. It is the lower price brackets of the private rented sector that have the biggest room to grow next year, especially in popular hot spots such as Queens Park, lauded for retaining the style and atmosphere of Kensington with more affordable prices,\u2019 he added.The report also points out that the average length of a tenancy on a rental property in prime London has grown 18% in the past year, from an average of 19 months in the third quarter of 2014 to 23 months during the third quarter of 2015. Marsh & Parsons expects the popularity of two year leases to continue growing in 2016 as tenants are increasingly entering into these longer tenancies in search of greater stability in the face of reduced rental properties available on the market, but it is the guarantee of housing they are securing, not rental prices over this period. The report explains that the stock of homes to let in London has decreased significantly in 2015. The total supply of available rental properties across 2015 was 9% lower than in 2014, while the levels of demand experienced throughout the last year has been 7% higher than during 2014. As…
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\nSource : propertywire.com
\nRead more…Prime property rents in London set to see recovery in 2016, report predicts<\/a><\/p>\n