Landlords struggling to exit the market are pushing down rents
24 August 2022
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The Daily Telegraph
London landlords could soon be unable to charge higher rents as the capital’s chronic shortage of homes starts to ease.
The increase in the number of homes came after rising rents and a sluggish sales market tempted landlords back into the space. The number of available lets in central London has jumped by 60pc since the start of the year is 24pc higher than what was available before the pandemic, according to data from Chestertons estate agents.
It is still 40pc down compared with August 2021, however, and competition for tenancies remains fierce, but experts said the supply crunch was ending. Katinka Hill, of Chestertons, said: “The London market is turning. There are definitely more homes being advertised and rents will level out by the end of this year.