London remains top rental hotspot

 
London remains top rental hotspot

London continues to be the top rental hotspot in the UK as it outperforms the country’s other cities.

Research from The House Shop shows the capital remains the market leader in terms of demand and enquiries, followed by Birmingham, Bristol, Leeds and Manchester.

Landlords could use the data to influence their future buy-to-let investments and aim to avoid costly void periods or lulls in demand.

Nick Marr, co-founder of The House Shop, explained the research could be useful for those looking to invest over the coming year.

He added: “The data varied from region to region depending on what our users were looking for, which has helped to build a clearer picture of the rental market in each city.

“This data can be utilised by buy to landlords to gain a better understanding of the local rental market for each of the top five areas, should they consider expanding their property portfolio in 2018 by choosing to invest in one of these areas.”

London saw the highest number of 18 to 34-year olds looking for a rental property, with the age group making up 50.65 per cent of enquiries. Demand was also highest for flats rather than houses in the capital, whereas in Leeds the majority of potential renters were keen to secure houses.