Sky high demand for properties in North West London
Figures from Rightmove’s first quarterly Rental Trends Tracker in 2015 showed that demand for rental homes is at the highest it has ever been. The research looked at 249,357 asking prices for rental properties coming into the market within the last two years before it reached its conclusion.
North West London estate agents TK International agrees wholeheartedly with Rightmove’s findings, with its staff fielding an increasing number of enquiries from new tenants and people wishing to enter the buy-to-let market.
Renting has become a lifestyle choice offering flexibility and lower set-up costs when compared to home ownership. In fact, the number of people renting in the UK has almost doubled from 2.5 million a decade ago to 4.8 million today. Plus, a further 1.1 million are expected to join the rental sector during the next five years, according to the Evening Standard’s Homes & Property Essential Guide to Renting in London (January 2015).
Properties to rent in Hampstead and across North West London are particularly in demand. According to relocation website www.mygreatmove.com, “north of the River Thames is considered trendier and more established than the south, leading to some very nice areas to live in.” Neighbourhoods including Hampstead, Primrose Hill, Highgate and St John’s Wood are high on tenants’ wish lists as they are brimming with beautiful properties while offering plenty of green open space, good schools, high-end shops and restaurants. Moreover, they possess that ‘village-like’ quality that professionals and families crave, without having to compromise on location.
There is a real mix of properties to rent in North West London, from the very old to the very modern. In Maida Vale approximately 85% of residential properties are flats: either in spacious period house conversions or in purpose built mansion blocks. In the Hocroft neighbourhood, however, you will find solidly constructed, substantial family homes in a mix of architectural styles.
Daniel Epstein, one of the Partners at TK International comments: “North West London is an extremely attractive place to live, with fashionable addresses, major attractions and stunning properties. We’re finding an increasing number of tenants are registering with us and they have one thing in common – their desire to live in North West London overrides their choice of tenure. We’re finding those that can’t buy in the area – for whatever reason – are choosing to rent instead. The address and location is more important to them, than whether they own the property or not, and many use renting as a stepping stone to ownership in the future.”
If you would like the latest selection of properties to rent in North West London and general home moving advice, please contact TK International today.
Photo by My Online Estate Agent
