News and Press releases

Rental 'gazumping' on the up as demand rises

08/11/2010

The practice is growing as rents soar because the ending of 100 per cent mortgages means young professionals are struggling to buy properties.
In London, rents have risen by as much as 35 per cent, further fuelled by the recent revival of the City.
It leaves students and graduate trainees struggling to find somewhere they can afford to live as others battle it out for properties which are snapped up shortly after being advertised.
‘The demand for rental property will heat up even further in the medium-term and gazumping will become even more common as tenants look for any way in which they can get ahead of the competition,’ said Jona¬than Moore, of easyroommate.co.uk.
The market for shared flats was also booming in cities such as Manchester, Birmingham, Glasgow and Southampton, he added.
Stephen Ludlow, director of the ludlowthompson.com lettings agency, said a four-bedroom ex-council home was recently let in Camberwell, south-east London, for £500 a week – £150 above the asking price and more than 40 per cent higher than the previous rent.

‘The exceptional demand for rental properties which we saw earlier in the summer is showing no signs of slowing down,’ he added.
‘If anything, the rental market is now more red-hot than a month ago.’
Rob Trotter, property manager at Edinburgh letting agents DJ Alexander, said rents had increased by ten to 15 per cent in the past year.
But he added: ‘We still operate on first come, first suitable bid basis.’

METRO, 8 November 2010

Housing market can be helped by not interfering, writes David Alexander
31/12/2010

The Guide Top Ten: Avoid the renting pitfalls to secure a happy home
11/12/2010

Sealed bid system has not afflicted city's rental market
03/12/2010

Rent bills on the increase
29/11/2010

Buy-to-let up as rental demand grows
13/11/2010

A GRAND GEORGIAN GEM
12/11/2010

Property ‘gap’ prompts switch from commercial to residential
09/11/2010

Rental 'gazumping' on the up as demand rises
08/11/2010

The hard sell: how solicitors and estate agents are coping with the harsh new realities of the property market
01/11/2010

Burnett off to DJ Alexander
29/10/2010

My working week...
22/10/2010