UK Rental Boom Hits High Note in St Johns Wood

It is no secret that the UK rental market is currently in the throes of an unprecedented boom. This boom is hitting every nook and cranny of the UK, but in places like St John's Wood, which have always been highly sought after, the effects are greatly pronounced.

The UK rental market and particularly that of London has always been strong, but the financial crisis has caused a perfect storm of converging circumstances, all fuelling a massive surge in demand for rental properties.

Firstly we have the crippled banks restrictive lending practices, which have prevented many would-be first time buyers from getting on the property ladder. They have of course been joined on the rental market by the thousands of households that lost their homes to repossession, who will be unable to get a mortgage for some years to come.

Those two effects began to add to rental demand almost immediately after the financial crisis washed our shores. At the same time, the financial crisis crippled construction in the UK. At first we had the supply that was already being built coming online, but as construction has stayed low, rental supply has got weaker and weaker.

And finally, house prices never corrected by anywhere near what was thought necessary, so we were still left with a huge problem of first time buyers being priced out of the market altogether, a problem which has since got worse where prices have risen.

All these people joined the existing rental pool, those on benefits, those who move for work and find renting more convenient, or those who simply prefer the freedom that renting gives them. This created a surge in demand for rental properties. Rental demand has surged across the UK, in fact the LSL rental index (arguably the biggest index of rental data) rents rose in all UK regions for the first time in ever recorded in September 2011, but as with many things property, London is hitting the high notes.

Nowhere is this more true than in the highly sought after borough of St John's Wood. St John's Wood has always been a highly sought after location for renting, not least because of its proximity to the American School in London and the Regents College. However, in recent times prices in the area have soared and this has also increased the number of people looking to rent, as they are unable to buy.

Whatever the cause we are inundated by prospective tenants, so it couldn't be a better time to let property in St John's Wood through Greenstone.

Vendors & Landlords click here...

VIEW SERVICE DETAILS

Register to receive the latest property alerts with Greenstone. Making sure you are informed immediately when new properties become available...

CLICK TO REGISTER

"What a fantastic service from start to finish. Couldn't ask for more and will definitely use Greenstone in the future!"

VIEW ALL TESTIMONIALS

Recently Added Properties

Finchley Road, London

Finchley Road, London

£350 pw

For Rent

View Property >

Huge 2 bedroom with Parking !

Huge 2 bedroom with Parking !

£415 pw

For Rent

View Property >

Brilliant Location - 2 double bedrooms - Balcony

Brilliant Location - 2 double bedrooms - Balcony

£400 pw

For Rent

View Property >

Maisonette with Huge Private Garden in Hendon

Maisonette with Huge Private Garden in Hendon

£365 pw

For Rent

View Property >

BEST FLAT IN HAMPSTEAD ? View Early to Avoid Disappointment

BEST FLAT IN HAMPSTEAD ? View Early to Avoid Disappointment

£375 pw

For Rent

View Property >

Newly refurbished throughout - High Quality

Newly refurbished throughout - High Quality

£415 pw

For Rent

View Property >

Shirland Road, Maida Vale, London

Shirland Road, Maida Vale, London

£545,000

For Sale

View Property >

Bloomsbury - great 1/2 bed flat

Bloomsbury - great 1/2 bed flat

£385 pw

For Rent

View Property >

Stunning Flat with Private Patio Garden

Stunning Flat with Private Patio Garden

£290 pw

For Rent

View Property >

Stunning 2 Double Bedroom Flat in Heart of St Johns Wood

Stunning 2 Double Bedroom Flat in Heart of St Johns Wood

£410 pw

For Rent

View Property >

?390.00 pw - 3 Bed Flat with reception room

?390.00 pw - 3 Bed Flat with reception room

£390 pw

For Rent

View Property >

NW6 - Luxury flat with dressing room

NW6 - Luxury flat with dressing room

£360 pw

For Rent

View Property >