Published: 01/05/2022 By Allan Fuller
Sometimes the clock can turn full circle. The rental market has seen demand from tenants skyrocket. This is partly due to people returning to work in London, and there is also a trend of landlords selling their properties, so we have reducing stock and increasing demand, the inevitable result is that rents have been increasing.
This may over time begin to adjust due to the build-to-rent sector. Two large blocks under construction in Wandsworth where B&Q and Homebase were will bring a vast increase, it is certainly interesting that financial institutions are seeing this as a worthwhile area in which to invest.
This is a return to what was once normal. In Putney the blocks built in the 1930s such as Manor Fields, Highlands Heath, Exeter House, Belvedere Court, Ormond Court and several others were built to let, in fact, only approximately 30% of homes were privately owned in 1939. This is now reversed with approximately 70% owned.
Renting has become increasingly popular in recent years especially among younger people, so the balance is shifting back, maybe renting long term will become a new normal.