Saturday, 23 June 2018

International demand driving rental market

by Jacky Hayler

THE number of tenancies agreed across the Home Counties rental market between April and June was 50 per cent higher year-on-year, driven by an increase in demand from corporate tenants working in London.

In the first half of 2014, nearly 40 per cent of all tenancies agreed were to international tenants, led by individuals from North America.

Tenants relocating from the US are often present during the first half of the year, with many wanting to move before the new American school term starts in August.

Gordon Hood, head of residential lettings (Ascot, Beaconsfield and Henley) at Knight Frank, said: “At this time of year, pre-school year, the Home Counties lettings market is driven by corporate families looking to be located close to the excellent education available in the area. As the London sales market continues to grow rapidly, its comes as no surprise that we are assisting more families who are willing to look further afield to gain the obvious lifestyle benefits, such as open countryside, beautiful towns and recreational pursuits, which a Home Counties rental can offer.”

Not only have activity levels risen in the second quarter but there are indications that there could be a further pick up in the coming months with the number of potential tenants registering with Knight Frank lettings agents over the three months to June rising by 49 per cent, compared to the same period last year.

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