The wild world of London City´s rental market has been a rollercoaster ride lately. But according to the savvy folks at Greycoat Real Estate Agency, things are starting to level out a smidge. The amount of rental properties up for grabs has shot up by a whopping third compared to last year.
This is a serious spike in stock, and it means that the once-super-tight rental market is finally getting a bit of breathing room. Renters might also finally catch a tiny break on the sky-high rental prices. According to the experts at Greycoat, the price hikes could start slowing their roll, even if they keep inching up overall.
This rental renaissance is caused by the fact that landlords are feeling optimistic again, thanks to the rent increases and property value gains, Greycoat specialists keep on sharing. Therefore, they’re coming back to the rental game in full force. That said, new landlord investments are still lagging behind pre-pandemic levels overall. It is a classic case of one step forward, two steps back in this wacky market.
Greycoat real estate agency sees this rental rebalancing as a big deal for both renters and investors. Renters may end up having a few more decent options to choose from, even if affordability is still an issue with prices marching upward (Parkeray).
As for investors, there could be some prime opportunities opening up to dive into the rental pool or expand their holdings while the waters are still warm, Greycoat adds. The bottom line is that London’s rental scene is shifting gears, but it’s still a bit of a wild ride. More stock is great, but that unstoppable demand means the market madness isn’t going anywhere fast. Renters and investors better buckle up – it’s going to be an interesting journey.