This can only be attributed to the fact that supply is now outweighing demand, and unless landlords ensure their properties are presented in immaculate condition, as well as being realistically priced, they will not attract tenants.
“We’re currently seeing a relatively equal split of nationalities across the West End of London market with 26% of tenants originating from the UK, 36% from the EU and 39% non EU. Previously, we have always seen a greater majority coming from abroad – the numbers have slightly diminished due to fewer foreign students this year and because some banks are recruiting fewer foreign expats. UK nationals are often forced out of Central London due to price, but with less competition and lower rents, they can afford to move back in.
“Our current statistics also demonstrate that 91% of tenants are single or couples compared to just 9% who are sharers (two or more). Additionally, 82% of our tenants are young professionals, 6% are students and 12% are corporate relocations. Consequently, the one and two bedroom flat market is the strongest of them all.”
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