21 Feb

Buy-to-let growth in prime London postcodes

Buy-to-let growth in prime London postcodes

Buy-to-let investors could see greater return on their investment in prime London postcodes.

Landlords that buy houses to rent in London could see increased rent from properties in upmarket areas.

The cost of letting a house or flat in London is forecast to grow by eight per cent across prime locations and seven per cent in prime central zones, according to Savills.

Last year, monthly rents of prime property  in London grew by 11.5 per cent.

Naomi Heaton, chief executive at London Central Portfolio (LCP), says "location, location, location" is still the order of the day.

She added: "The savvy investor will be looking at the prime postcodes around Hyde Park – areas like Kensington, Chelsea, Mayfair, Marylebone and Knightsbridge.

"[Tenants] are looking for good value, well-presented, one and two bedroom flats."

Small is beautiful for potential landlords, she added.

High levels of demand and a shortage of houses and flats to rent in London will mean strong price growth in 2010, according to Savills. ADNFCR-1222-ID-800417825-ADNFCR

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