London named as 2017’s ‘top rental hotspot’

LONDON NAMED AS 2017’S ‘TOP RENTAL HOTSPOT’

London received more enquiries from property listings than any other region or city in the UK in 2017, making it the ‘top rental hotspot’ for this year.

The strongest tenant demand was recorded in London, and this was followed by Birmingham, Bristol, Leeds and then Manchester.

The data, collected by TheHouseShop, looks at tenant enquiries in each area, property type, and tenant demographic, among other factors. This data is useful for landlords in that it reveals what is happening in the local rental markets of each UK city, and can be used to help inform their future investment decisions.

Nick Marr, co-founder of TheHouseShop, said: “This data can be utilised by buy-to-let landlords, as they can use it to gain a better understanding of the local rental market for each of the top five areas, should they consider expanding their property portfolio in 2018 by choosing to invest in one of these areas.”

Interestingly, there were more enquiries for flats than larger properties in London, with 69.98% enquires for flats during 2017. This compares to 17.82% enquiries for three-bedroom properties in London, which was the region with the lowest number of enquiries for three-bedroom properties in the UK.

London also saw more enquiries from millennials than any other region, indicating that London remains the ‘top rental hotspot’ for 18-34-year olds.

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