Two reports point to supply-driven competition in London lettings

Posted by On July 25, 2018 0 Comment
Two new sets of figures show competition in the London lettings market. It’s all about regional fluctuation, according to Benham & Reeves, with an overall neutral picture disguising modest rises in the west London postcodes benefiting from the Crossrail effect, and a glut in supply from new, larger developments keeping rents competitive in some desirable neighbourhoods, including Westminster, Knightsbridge, Richmond and Clapham. Meanwhile JLL reports a second quarter slump in London transactions, with landlords opting to keep tenants at a discount rather than risk voids. Transactions were down 17% compared to the same period last year.