West London Rental Market - Demand Continuing to Rise

News at Kerr & Co | 04/04/2023

West London Rental Market -
Demand Continuing to Rise

London is, and always will be, a premium destination for renters - both domestically and internationally.

Shepherds Bush and Hammersmith remains very popular area with renters, and properties, especially with young professionals, families looking to move into the area for schools and foreign students residing at the Imperial College campus and tech-preneurs and media professionals who are attracted to the ITV and BBC studios and the convenience and lifestyle on offer in this part of West London.

The popularity of this part of West London has seen an increase in demand for Lettings and Landlords seeking support from our Property Management Department. Over the last 3 months we have seen a significant increase in competition for each new rental instruction since December . Often we have 20 renters per instruction and its been difficult to satisfy this constant demand. Zoopla recorded that the number of properties coming to market to rent was down 5% in February and 4 % in January . Our sympathies are with those looking and many tenants as the market is very competitive and as properties are put up to rent are moving incredibly quickly. Good quality properties are generating multiple offers – often over asking price and long-term contracts are being agreed.

A result of this influx in demand, there is a shortage of available properties. The exceptional volume of prospective tenants means that demand is far outstripping supply. 2023 is a fantastic time to be a landlord if you are in West London, our Lettings Department are Experts in W12 W6 , W14 and neighbouring areas, we can guarantee best market rents and good quality referenced tenants.

If you have a property to let or would like to know more how to rent your property out in 2023, give our lettings department a ring on 0208 743 1166 or email us lettings@kerrandco.com