2011 has kicked off strongly. Andrew Clements from Savills Wimbledon and Putney has witnessed a good number of new applicants coming through his doors. “But we’re still short of property to let out,” he says.

“The majority of pitches I’m going to in Putney are joint with the sales department, where the homeowners are unsure of which way to go – sales or lettings.”

His colleague Angharad Gabriel, head of Savills South West London Lettings, believes the market is slightly quieter at the high end (£3000 plus a week) in Richmond and Barnes, while at the lower end (£1500 to £3000 a week) they are beginning to see more activity. “Applicant levels have increased dramatically after people made their New Year’s resolutions, involving moving home, changing jobs and even leaving their partners.”

The latest Douglas & Gordon market report on the lettings market says applicant registrations are up 24 per cent, and the stock of property to let is nearly half (52 per cent) the September 2009 level. As a result, rents went up by nearly three per cent in the last quarter and have now increased by 18 per cent over the last 15 months. Unless the supply increases (and where is it going to come from?), rental values can only go in one direction.

Patrick Littlemore from Marsh & Parsons believes that for landlords to capitalise on what is continuing to be an active lettings market they will need largely hassle-free property that’s ready to rent. “Making sure a property has no outstanding repair or decorative issues, and that the management is done to a professional standard, is key. This not only secures a tenant at the right price, but also keeps the right tenant in your property for as long as possible.”