The downside to the increased supply, of course, is that it is continuing to weigh on rents.
RICS say that 48 per cent more surveyors reported a fall in rents than a rise in the three months to January, compared to 12 per cent more in the previous report. This is one of the lowest readings since the report began in 2003.
Rental expectations have gone through the roof. There is a massive shortage of stock. Relocation Services reports that finding stock in Notting Hill, Kensington, Chelsea and South Kensington is tough. Americans have been planning ahead.
See usually when I place people, they move in within days, forecasting out to six weeks. But for some reason, we have been placing people for late July and August move-ins. No matter what RICS says…. It’s crazy hereat the moment… Location-centric properties always move quickly.
We can help.