Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Tenant Demand Rises in London as Landlords Return to Rental Market
Tenant demand in London continued to rise in August, according to Chestertons' lettings index, as growing numbers of landlords brought properties to the capital's rental market. The increase in supply came three months after the Renters' Rights Act took effect.
What the report shows
The Chestertons lettings index shows tenant demand increased in August, with more landlords returning to London's rental market. Property118 covered the report and notes that the London property sales market is seeing a rebound, though the excerpt does not provide further detail on sales figures.
What this means for letting agents and inventory clerks
For letting agents operating in the London market, rising tenant demand combined with increasing landlord supply points to continued lettings activity following the implementation of the Renters' Rights Act. Inventory clerks may see corresponding demand for check-ins and check-outs as more properties come to market.
The source material is limited on specific figures, so agents should consult the full Chestertons lettings index and the original Property118 report for detailed statistics.
Source: Property118