If you are planning to invest in a buy-to-let property in London, now is the right time! For, average rental values in London were higher than in the rest of the UK last month. This clearly establishes London as one of the top rental markets in the world, as demand continues to grow.
The variation in the rental values has been in the positive territory the whole of 2018. In September, average rental values in London (£1,640) were 73.9 per cent higher than the UK (£943). When London is excluded, the average rent in the UK was £780 in September, average rents in London (£1,640) were 110.3 per cent higher than the rest of the UK, according to the latest HomeLet Rental Index.
Of the 21 London boroughs, 17 registered positive rental variation, with Haringey & Islington leading at 14.8 per cent. It was followed by Camden, City of London at 12 per cent. Four other boroughs saw annual rental variation of more than 5 per cent. Demand from working professionals, business community, students and international travelers is driving the growth of rental values in London.
With 25 years supporting the industry, HomeLet is one of the leading sources of the UK’s vibrant private rented sector. The data provided by HomeLet reflects the trends in the UK’s lettings market. The positive growth in rental variance suggests that investments in buy-to-let properties are providing long-term gains to investors.
Though market sentiments were negative for the last two years in view of Brexit and its impact on the UK economy, the London rental market remained resilient. While house price growth witnessed a slowdown, rents in London continued to show impressive growth. During 2018, rental growth in London was consistent in the range of 3-4 per cent with Prime Central London properties being an exception. The impact of Brexit on the London rental market has been minimum and it is evident from the transactions.
Strawberry Star Group, one of the leading property companies, specialises in buy-to-let properties in London. Buy-to-let residential properties in specific locations of London where rental growth is consistent are available for sale through our network. If you are interested in investing in one such property in London, Strawberry Star can help you identify a suitable buy-to-let home ideal for you.
For details on buy-to-let investment options in London, call any of our global offices and our estate agents will guide you.