> LETTINGS SPRING MARKET COMMENT 2017 | Plaza Estates London
Rental Market Comment Spring 2017
By Fiona Guthrie
// Thu 4th
The Spring market has been erratic but the unexpectedly warm weather in April brought with it an upturn in demand especially from the corporate sector which was very encouraging.
The Spring market has been erratic but the unexpectedly warm weather in April brought with it an upturn in demand especially from the corporate sector which was very encouraging. At the time of writing, temperatures have plummeted, a General Election has been called and world affaires are extremely uncertain so we hope that we do not see a reverse of this trend! Spring and early Summer are traditionally very busy times for the letting market. We have already registered a good number of families who are being relocated to London (despite Brexit) and are starting to look for houses and large flats from July. Surprisingly we also have students keen to find property now for September which is a bit too early but encouraging to make contact and to try to advise them for later in the year.
Stock levels are fluctuating. There are some sectors where supply is depleted. We anticipate from the enquiries we have already that there will be a shortage of 4 and 5 bedrooms houses and flats in the coming months.
After so much recent political upheaval and Brexit, there seems to be less impact generally to the news of a June election at this stage. However, if the results are not those predicted, we could see unprecedented market turmoil in London as a result of economic uncertainty. Let us hope we might have a period of some stability, a strong economy and consequently a strong rental market.