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

Large 2 Bed with Parking in West Hampstead NW6 3AA

Large 2 Bed with Parking in West Hampstead NW6 3AA

£470 pw

For Rent

View Property >

Mortimer Crescent, London

Mortimer Crescent, London

£460,000

For Sale

View Property >

Leighton Grove, Kentish Town, London

Leighton Grove, Kentish Town, London

£240 pw

For Rent

View Property >

Abbey Road, St Johns Wood NW8

Abbey Road, St Johns Wood NW8

£575 pw

For Rent

View Property >

Abbey Road, St John's Wood, London

Abbey Road, St John's Wood, London

£395 pw

For Rent

View Property >

Boundary Road, St Johns Wood, London

Boundary Road, St Johns Wood, London

£300 pw

For Rent

View Property >

Blenheim Terrace, London

Blenheim Terrace, London

£570 pw

For Rent

View Property >

Boundary Road, St John's Wood, London

Boundary Road, St John's Wood, London

£400 pw

For Rent

View Property >

Belgrave Gardens, St Johns Wood, London

Belgrave Gardens, St Johns Wood, London

£400 pw

For Rent

View Property >

Rosemont Road, London

Rosemont Road, London

£900 pw

For Rent

View Property >

Randolph Avenue, Maida Vale, London

Randolph Avenue, Maida Vale, London

£645 pw

For Rent

View Property >

89 Fairfax Road, London

89 Fairfax Road, London

£345 pw

For Rent

View Property >