Suburban London landlords see rise in demand

by Sarah Ashcroft

Landlords with properties outside of the prime central London area could see a boom in demand as tenants continue to struggle with soaring rents.

Assured shorthold tenancy agreements are increasing in value across prime London locations and are on track to hit £1,052 per week by December, according to forecasts by Cluttons.

By Christmas, tenants in the capital are forecast to be paying 30 per cent more than in December 2009, with the lettings agent noting that there is an acute shortage of lower budget homes in the capital.

Cluttons partners for residential lettings Lynn Hilton explained that tenants are having to become increasingly flexible over their location.

She added: "Tenants are stuck between a rock and a hard place, with many struggling to buy in London due to high prices and little opportunity to save a deposit as rents skyrocket."

Recent research by revealed that many Brits are opting to rent a room as an alternative to renting their own place to live.

The number of lodgers in the UK has increased by around 100,000 to 2.85 million compared to a year ago, new figures show.

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Published on: August 24, 2011

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