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

St. Johns Wood Park, St Johns Wood, London

St. Johns Wood Park, St Johns Wood, London

£625 pw

For Rent

View Property >

Large 3 bedroom with TWO balconies

Large 3 bedroom with TWO balconies

£510 pw

For Rent

View Property >

Sybil Phoenix Close, London

Sybil Phoenix Close, London

£215 pw

For Rent

View Property >

Bright 1st floor apartment with potential !

Bright 1st floor apartment with potential !

£450,000

For Sale

View Property >

Primrose Hill

Primrose Hill

£850 pw

For Rent

View Property >

Park Road, Regents Park, London

Park Road, Regents Park, London

£350 pw

For Rent

View Property >

Newington Green Road, Highbury, London

Newington Green Road, Highbury, London

£310 pw

For Rent

View Property >

John Williams Close, New Cross, London

John Williams Close, New Cross, London

£210 pw

For Rent

View Property >

Euston Road, London

Euston Road, London

£400 pw

For Rent

View Property >

Camden Road, Camden, London

Camden Road, Camden, London

£575,000

For Sale

View Property >

St. Johns Wood Park, St John's Wood, London

St. Johns Wood Park, St John's Wood, London

£1,000 pw

For Rent

View Property >

East Finchley - Private Garden

East Finchley - Private Garden

£435 pw

For Rent

View Property >