6 Dec

Home Countries enjoying strong letting market

Home Countries enjoying strong letting market

The prime letting market in the Home Counties has seen an increase in supply and demand, according to new analysis.

Research from Knight Frank shows the number of properties at the top-end of the market has increased by 56 per cent over the course of 2016, largely due to recent tax changes.

"When you consider that the stamp duty on the purchase of a £10 million property in the Home Counties is £1.1 million, rising to £1.4 million if it is a second home or additional residence, that’s equivalent to more than three years rent," said Jemma Scott, partner in Home Counties Lettings.

She added landlords are also flexible when it comes to rents because of the strong supply of homes available.

"This flexibility can make renting look like an increasingly attractive option, although best-in-class properties, which are in a ready to move in condition with the latest fixtures and fittings are holding their value," explained Ms Scott.

According to Knight Frank, the number of viewings of rental properties offered at £15,000 or more per month has more than doubles over the past year as people continue to enjoy the benefits the region offers.

"The Home Counties are often the first destination for individuals moving out of London, while excellent transport links back to the capital and the wealth of outstanding schools mean they’re also favoured by international tenants looking to relocate to the UK, attracted by the abundance of green spaces and a vibrant social and sporting scene," said Ms Scott.ADNFCR-1222-ID-801829436-ADNFCR

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