What’s Happening in the Prime London Rental Market?

Posted on Wednesday, September 4, 2019

Updated on

Peter Hermon-Taylor, Head of Lettings at Maskells

The rental market in PCL has enjoyed a period of strong demand over the last 3 months, having shrugged off a sluggish start to the year. Maskells has achieved a 60% increase in the number of tenancies agreed in Q2, versus the same period in 2018, and the market as a whole shows a circa 20% increase this quarter over Q1 2019. We believe the majority of this increase in demand can be attributed to the response buy buyers to the current political uncertainty, perhaps allied to a sense of resignation and desensitisation to the UK’s predicament, manifesting as a ‘just get on with it’ attitude.

Of particular note recently is the strong demand from families looking to secure their rental homes in time for their summer move, tied to the school year. As an example of this, we recently agreed on a rental on the attached house in Pavilion Road, to an American family moving from Texas with 2 children and their beloved King Charles Spaniel.