Business Maverick: London property exodus is in reverse as tenants return

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 84%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Tenants flocking to London are driving up rents in the capital, reversing the pandemic “race for space” and adding to the UK’s cost-of-living crisis.

A record 30% of homes let in London this year went to people who previously lived outside the city, according to estate agent Hamptons. The surrounding areas of Berkshire, Buckinghamshire, Essex, Hertfordshire, Kent and Surrey –- known as the Home Counties – now account for more than half of tenants moving in.

Rents in the capital have risen by 12.3% over the past 12 months, the fastest rate since the Hamptons index began in 2013. Growth is now outpacing the national average, having lagged behind during the pandemic when many quit urban centers in search of larger homes. “With Covid being pushed further to the back of people’s minds, life in the capital is slowly returning to its new normal,” said Aneisha Beveridge, head of research at Hamptons. “The footloose nature of many jobs today means that it will be culture and lifestyle rather than employment that becomes the capital’s biggest draw.”

Andrew Wishart, senior property economist at the consultancy, said the surge in borrowing costs back then caused house prices to crash by 20%. However, “the tight labor market, lower loan-to-value ratios, and a lower peak in interest rates mean the drop in prices should be less dramatic this time.”

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: New Zealand records its weakest population growth in 30 yearsThe population advanced by just 19,200, or 0.4%, to 5,127,000 at March 31, Statistics New Zealand said on Monday in Wellington. That’s less than the 25,100 gain in the year through March 2021 and is the lowest since the government agency began providing estimates in 1992. I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07 I wish everyone can be like you, Helen, I haven't lost since you have been managing my trading account, I love you so much JonathanHele
Källa: dailymaverick - 🏆 3. / 84 Läs mer »