Due to a lack of rentals property on the market, prices have held up south of the river.
Patrick Littlemore from Marsh & Parsons says prices have remained the same and are starting to rise in some areas. “We had a two-bedroom flat in Clapham go to best and final bids and it eventually was let for over the asking price of £400 a week.”
He believes this is a good time to rent a home compared to the peak rental season of June to November.
“There might be a limited supply of homes, but you are competing with fewer people and you will get a landlord’s attention faster.”
Holly Kennedy of Cluttons’s, Clapham, says the legacy of the recession is that landlords and tenants have differing expectations of the market. “Tenants still expect low rents as a consequence of the downturn, while talk of a recovery has left some landlords looking for an immediate price upswing.”
She advises both sides to be realistic and sensible in their approach through 2010. “Presentation of a property is still vital for landlords. Tenants, on the other hand, must also continue to do their research properly and be prepared to act quickly to get the property they are looking for.”
Tips for landlords in 2010 include de-cluttering property, thinking neutral throughout, laying tiles in the kitchen and bathroom and wooden flooring in the reception room, and keeping
heating on for viewings, according to Angharad Gabriel of Savills in Wimbledon and Putney.
“Suggestions for tenants are: make an offer right away so you don’t lose a property; talk to your agent to gauge if a landlord is open to offers; be realistic about offers and flexible on the move in date as it may secure you the perfect property.”