It’s a landlords’ market, with not enough property to go round. “In fact, during the third quarter, we’ve had 23 per cent fewer properties available, compared to the same quarter last year,” argues Marc von Grundherr from Benham & Reeves Residential Lettings.

“Tenants simply aren’t moving and are staying put. Lease renewals are up across all our offices - with a whopping 64 per cent renewing their tenancies last quarter compared to 2009 – an increase of around 32 per cent,” he says.

Von Grundherr’s advice to tenants is to put a deposit down the moment they see a property they like. “Dutch auctioning over rentals has vanished, and in some cases we’re achieving over asking rents with people competing, particularly those in the £500 to £700 a week category.”

Some corporate tenants are trying to make their offers more appealing by offering to pay two or three years’ rent upfront as a ‘premium lease,’ but this can have a negative impact on a landlord's tax position and does not guarantee the property for the term agreed. “More sharers are around, too, as one-bedroom apartments are scarce and it’s harder for people on lower budgets,” adds Von Grundherr.

Julia Garber at Sandfords is witnessing an increase in demand for family homes. “In the last few weeks, we’ve let to a large leisure company in Regent’s Park, demonstrating that the corporate lettings market is buoyant. Supply levels are consistent with this time last year, but if there is a flurry of activity in the rental market ahead of Christmas, it’s likely demand will outstrip supply.”

As always, realistically priced quality property has a short turn-round, suggests Arron Bart of Savills Hampstead. “Renewals are achieving healthy increases at over five per cent, and sales and lettings are working more closely with each other when landlords want to test the water to see which comes in first and at the best level.”