CENTRAL LONDON LANDLORDS WERE LIKELY TO REDUCE RENTS LAST YEAR, STUDY FINDS
Published: 09/05/2018Landlords in central London were the most likely to have reduced rents in England in the last 12 months, according to a new study.
The study of 1,043 landlords across England found that fewer landlords in central London reported tenant demand to be stable or increasing than in any other region, and that over a quarter were likely to have reduced rent in the last year.
The study found that landlord confidence overall had remained confident or increased in the first quarter of 2018 compared with the end of last year.
Landlords in the east of England were most positive about the future, according to the report, with over half (53 per cent) indicating that they felt upbeat about the prospects for their own lettings business over the next three months.
By contrast, landlords in central London were the least optimistic, with only 26 per cent rating prospects for their own business as good or very good over the next three months.
At a regional level, the East of England and the Midlands look well supported, with encouraging data on tenant demand, yield and capital gains while the London market adjusts its footing after many years of strong growth.
In a research carried on landlords it is found that 14 per cent of landlords have decreased rents in central London over the past 12 months.