Category: London Rents (16)

The FT reports on how London’s economic geography has changed in the 21st century. The inner city has developed rapidly. Its core is growing faster than its periphery. Immigration from around the world is part of this story, but so too is the influx of younger people of childbearing age, attracted to the lifestyles of gentrified inner areas such as Hackney and Lambeth and their improving schools. There has been a new, diverse baby boom in the capital. And unusually, the past 10 years have seen more people arrive in inner London from the rest of England and Wales than leave.

Click link to go story on FT.com

The Guardian is running a story on London’s magnetic pull for young people all over the UK, illustrated by the statistic that one in three 22-30 year olds leaving their UK hometowns end up in London. Click image to go to the story.

Net flows of people to London. Click image to go to Guardian story

Net flows of people to London. Click image to go to Guardian story

The Economist reports that LONDON is turning inside out. That, anyway, is roughly the argument of a couple of pieces they published recently. Just as affluent young professionals seem to be staying in the inner-city longer, turning places such as Dalston (in Hackney) and Peckham (in Southwark) into hipster enclaves, so too are the outer suburbs getting poorer, as people who cannot afford inner-London rents are pushed further out.

Click the image to read more:

Click image to go to story

Click image to go to story

With property prices soaring, more and more people are stuck in rented houses when they would rather own, but according to a feature in The Guardian a bit of creativity can help to turn your rental into a home…

Click to go to story on Guardian.co.uk

Click to go to story on Guardian.co.uk

Relaunched as East Village this week, the Stratford athletes’ quarters is set to become home to thousands of London’s renters. Click image to read more at the Evening Standard…

Click image for more on this story

Click image for more on this story

The Today programme on BBC Radio 4 reports that tenants in east London are being evicted from their homes as landlords attempt to cash in on the Olympics.

The National Landlords Association has condemned the practice, saying it is more beneficial to landlords to have a good, long-term tenant in their property.

The New York Times today reports on the 300,000 Parisians who have moved across the Channel to Paris-on-Thames, aka London. They come in search of jobs and the global swirl: that raucous mix of innovation and grunge missing in a too-perfect Paris.

A new lycée, a new radio station (French Radio London) and a new electoral constituency all testify to the exodus, as did the appearance in London last week of the French Socialist candidate François Hollande.

More than 300,000 French now live in London, making it the sixth-largest French city. Most are under 40. They learn English and they learn that globalization is not merely the catalogue of woes so laboriously laid out by the French left over the past couple of decades.

Click to go to NYT story by Roger Cohen

Click to go to NYT story by Roger Cohen

After a brief break, rents are rising once again, according to LSL Property Services, up 0.1% in January (the first ever January rent rise since they’ve been keeping records). In London, the rise was 0.8% (leaving the average rent up 6.3% on the year).

Click here for full story

London rents continued to grow over the past quarter, as an acute shortage of properties pushed up prices.

Desperate tenants are resorting to the job-hunting tactic of handing in their CVs amid fierce competition in the rental market.

London-based Ludlow Thompson reported a “growing number” of unsolicited CVs from prospective tenants, giving information ranging from detailed information about their relationships and pets to more prosaic job records.

Stephen Ludlow, director of Ludlow Thompson, said: “Fierce competition for properties in the London rental market is forcing tenants to go to extraordinary lengths to secure the property they want.”The latest trend is for tenants to send landlords a personalised CV, explaining why they would be a great tenant.

Source: PA

Government statistics show that the number of newly built homes fell last year to just under 120,000 – half the level needed to keep up with growing national demand. London saw the largest decrease (27 per cent) in new home building with just 18,000 new properties coming on to the market. Overall the UK now has a shortage of around a million homes, with the deficit rising by 100,000 homes a year as people live longer and increasingly live alone. This will surely add further pressure to the rental market. Read more at the London Independent’s website.