Andrew Ellinas, director said:
“Demand for rental properties continues to grow, in particular for one bedroom apartments of which there remains an acute shortage in prime areas of central London, including Marylebone and Regent’s Park. Whereas last year, tenants could have expected to pay on average £400 a week for a one bedroom apartment, the same property now costs around £450.
“However, with increasingly competitive buy-to-let mortgages now available from lenders, we are starting to see landlords return to the market, attracted by the promise of robust rental yields and prospect for strong capital gains in leading parts of the capital. This will have an impact on rental price growth, which I expect to slow in the second half of 2011 as more properties come onto the market reducing competition.”
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