‘2022 will be remembered as a boom year for residential landlords’ – LCP
Newly-agreed rental prices in prime London jumped 19% in 2022, says a specialist buy-to-let buying agency, while renewal prices surged 7.4% in Q4.
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Private rental stock has dropped by half since 2019 as landlords exit the market
Estate agency branches had an average of 15.6 properties available to rent in March this year, says Propertymark, down from 30.4 in March 2019.
London rents jumped 20% in 2022, and demand remains high
Demand for rental homes in London 'remains high and I do not see a great glut of stock on the horizon,' says Sarah Tonkinson of Foxtons.
Record-breaking rental growth continues, with central London rents up 15% on the year
'2022 has been a record-breaking year for rental growth,' says Hamptons. 'But even so, rents have failed to keep pace with wider inflation, and indeed landlords’ rising costs.'
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