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High rents keep tenants in situ for longer then ever

With a limited supply of new property and rents now tipping the scales of the previous market peak of 2008, tenants who are coming towards the end of their term now find themselves with fewer options than they previously had – A stark contrast to the preceding three years when low rents gave hard negotiating tenants the luxury of either staying where they were for less money, or upgrading to bigger and better properties with either no or minimal rent increases.

The private rented sector (PRS) is now as strong now as it ever has been according to London property consultants Hurford Salvi Carr; London’s resurgent rental values have resulted in attractive inflation beating yields, and the supply and demand scales now appear to be firmly tipped back in favour of the Landlord.

The economic reasons behind renting have always been clear, but in recent times it has become more sociably acceptable bringing us in line with our European counterparts such as Germany where renting is the norm.

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