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Renters flood back to city centres in search of bargains


Renters flood back to city centres in search of bargains 
London affordability now at levels not seen in the past decade
Demand for rental homes has jumped 26pc in Edinburgh since Easter
Credit: Chris Watt
Renters are returning to city centres across Britain in a reversal of the pandemic-fuelled exodus which saw urban populations plummet. 
The revival comes as prospective tenants hunt for a bargain, especially in London where affordability is now at levels not seen in the past decade, according to property website Zoopla. 
City centre landlords bore the brunt of collapsing demand and falling rents as the pandemic took hold last year, as urban dwellers looked instead to rural locations with more space.  ....

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Sales of London's priciest properties spike 80pc as lockdown ends


Sales of London s priciest properties spike 80pc as lockdown ends
The supercars are back in Knightsbridge , estate agents say
Demand has spiked for prime London homes in areas such as Notting Hill
Credit: Alexander Spatari
Sales of the most expensive homes in central London have soared as the economy reopens and the exodus from the capital reverses. 
Deals in Kensington & Chelsea jumped 80pc in  the two weeks since restrictions started to ease on April 12, compared with the previous 28 days, according to property website Zoopla. This was the largest jump in sales of any local authority in Britain.
Four other London boroughs were also in the top 20. Lambeth, Sutton, Barking and Dagenham and Hammersmith and Fulham recorded respective rises of 49pc, 48pc, 40pc and 39pc.  ....

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Hong Kongers rush to buy London property using new visa


Number of Hong Kongers buying London property quadruples
Summer frenzy from overseas buyers once international travel resumes
A “summer frenzy” from overseas buyers is expected 
The proportion of London homes bought by Hong Kongers has quadrupled since a new visa scheme allowing residents of the island to relocate to Britain was announced last July.
Property firm Benham and Reeves said Hong Kong buyers now accounted for 4pc of London transactions among its clients, up from 1pc.
The rise intensified since the British National Overseas visa opened for applications in January. The new policy could see 300,000 Hong Kong residents move to Britain in the next five years following increasing interference in the region from mainland China. ....

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London exodus drives UK rents to six-year high


Homes in some areas are being snapped up within two weeks of being advertised
28 April 2021 • 6:00am
Rents outside London have hit a six-year high thanks to a flood of tenants leaving the capital for towns and smaller cities.
Landlords have reported overwhelming demand for homes, with some properties being let within 14 days of coming to market. But London has bucked the national trend, with rental growth set back by at least five years in many parts of the city following a pandemic-fuelled population exodus. 
Record demand for rentals outside of London has driven average asking rents in the UK, excluding the capital, to £982 per month. The figure is 4.2pc higher than the average recorded in the first three months of 2020 and is the highest annual rate since 2015, according to property website Rightmove.  ....

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