Agents report that it is definitely a landlord’s market at present.

Neil Sloam at Brian Lack & Co notes a severe shortage of property: “So we're seeing rent rises and most tenants are very happy to renew knowing that they are unlikely to find anything better.”

In north London, particularly West Hampstead, Sloam is receiving a good number of enquiries from students. “Most are opting for flats, instead of larger houses, as planning for HMOs (houses of multiple occupation) is so hard to come by for landlords. In Knightsbridge, however, we've seen a number of enquiries for short-term lets and demand is highest for one-bedroom flats.”

A large number of wannabe tenants want to get their hands on modern property, or property renovated to modern specifications, says Tatsuya Kasai from Japan Homes, with offices in Golders Green and Swiss Cottage.

“The modern look appeals especially to the younger generation from Europe, South Africa and Asia,” believes Kasai, “but we have a shortage of places of this standard.”

Garden flats also are very rare, he suggests. “They go quickly for a premium of about £100 a week.”

Another new trend is people becoming more eager to rent homes close to a tube station. “They have to get to schools that are further away now, so want to be as close as possible to good transport,” Kasai adds.

Louise O’Driscoll, lettings manager at Kay & Co in Marylebone, says that although she’s had the best month so far this year, the market still seems quiet.

“There are not many applicants out there looking, but those that are seem to be serious. I think the Budget might have discouraged some potential landlords, as there aren’t many new instructions coming onto the market,” O’Driscoll says.