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One of London’s leading letting agents, Austin Homes, predicts a significant price hike for renters in the Capital as demand for property in the World’s most exciting city booms. 

An optimistic prediction for London’s landlords, data from several sources indicates a significant rise in rents across the capital of around 8.9% expected this year. This data strongly supports independent research conducted by Austin Homes, leading experts in renting properties across London, from Old Street to Highgate. 

These price increases are led by a shortage in properties to rent in the City as London continues to attract many people from overseas looking for a base in London. 

The private rental sector did not take advantage of the Stamp Duty cut brought in by the Chancellor of the Exchequer Rishi Sunak in 2020 following the pandemic with just 1% of house purchases during the stamp duty holiday, which ended in June 2021, coming from private landlords.

Those renting in London are being met with higher costs as the UK government has squeezed the private rental sector.
Those renting in London are being met with higher costs as the UK government has squeezed the private rental sector.

Austin Hayes, founder and Director of Austin Homes, explains, “We must understand what's going on in the marketplace and that we get behind landlords. Changes to the marketplace have big implications, but the sector plays a role. We expect the Government to understand some people want the flexibility of renting. On the; another side, all the landlords we support are community-focused and understand the responsibility they hold in the space”

Over the past few years, private landlords have faced a tidal wave of legislation and tax increases, factors that have impacted the expected hike in rents alongside inflation. According to the Office of National Statistics, rental prices in London had already seen a 4.6% raise at the end of 2021.

Austin Homes is a leading provider of property management services in London and helps their landlords navigate a changing environment whilst working hard to ensure tenants are long term and happy in the private rental space.

 

About London's leading letting agent, Austin Homes 

Austin Homes is a leading light in London lettings and sales space. They are priding themselves on delivering a unique and bespoke service hinged on expert local knowledge and a passion for the communities they serve. With a focus on East London’s Shoreditch and Hoxton areas, Austin Homes is pleased to sell and rent some of London’s finest properties, offering a bespoke service and outstanding results.

 

Press & Marketing Contact 

Name: Claire White
Company: Why Media London
E-Mail: claire@whymedia.com
Website: whymedia.com


Press Contact:

Miss. Claire White
W. Why Media
E. claire@whymedia.com