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Prime Residential Rents

UK Residential – Q2 2020

Report

Autoren: Lucian Cook , Gaby Foord , Jessica Tomlinson

Reihe: Savills Spotlight

Anbieter: Savills

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  • Erscheinungsweise: Quartalsweise
  • Berichtszeitraum: 2. Quartal 2020
  • Erscheinungsdatum : 21.07.2020
  • Seiten : 4 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 1,80 MB
  • Sprache(n) : Englisch

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Inhalt

Covid-19 has impacted the prime rental markets in many ways. While initially experiencing a boost in activity, an increasing amount of stock from short lets (as well as new build completions in some markets) has put pressure on London rents.

This is despite an increase in applicant demand since the market reopened. As of mid-June, the number of new Savills applicants registering each week is 42% higher than the same period in 2019 and 55% higher than the average for the 12 weeks pre-lockdown.

Outside of London, prime rents across the commuter belt continue to increase as a result of strong demand for family housing. Many people are reconsidering what they want from a home, with some deciding to relocate and rent before committing to a purchase. As such, for markets outside London the weekly number of new applicants is 77% higher than the weekly average for the first 12 weeks of 2020.

Much of what happens next will depend on how quickly the short-let stock in London moves through the market, and whether the current levels of tenant demand are sustained through the rest of the year given the fragile short-term economic outlook.

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