As spring arrives in London, landlords are well-positioned to benefit from a buoyant rental market. Increased demand from professionals, international relocation agents, and early students is driving rental values and reducing void periods. With warmer weather and longer daylight hours, the traditional seasonal uptick in activity is in full swing.
The appetite for high-end rental properties remains strong, with tenants seeking well-presented residences. Properties that offer concierge services, security, and luxury amenities are particularly in demand. Lateral apartments in Knightsbridge and period townhouses in Chelsea continue to command premium rents, with a growing preference for newly refurbished, high-spec homes. With supply constraints in certain price brackets, landlords who present their properties to a high standard are seeing the best returns. One- and two-bedroom apartments remain highly sought-after, often securing competitive rents quickly. Larger family homes, particularly those with outdoor space, are also in demand, with limited availability driving rental values higher.
Recent research highlights that reduced supply is further fuelling rental price growth in prime London areas. In February, annual rental growth reached 6%, the highest level since November 2023, with average rents now 33% above their pre-pandemic levels. The number of agreed lets fell by 42% year-on-year, while new rental instructions dropped by 29%, reflecting the tightening supply. Additionally, available rental stock across prime London was down 19% compared to the previous year.
With the Renters’ Rights Bill scheduled to take effect in summer 2025, there has been considerable concern and uncertainty. As mentioned previously, the Bill is still subject to potential amendments and changes. Once we have definitive information on how it will be implemented, we will update our clients and ensure they are fully informed and protected.
It has been confirmed that the next stage of the Renters’ Rights Bill will not begin for another month. The committee stage in the House of Lords is set for April 22, with a further session on April 24. During this stage, a number of peers will examine the Bill line by line and consider potential amendments. Notably, the National Residential Landlords Association is supporting two amendments on rent arrears, aimed at giving landlords confidence that they can recover their properties swiftly should tenants stop paying rent. Since the Bill was last discussed in the House of Lords on February 4, over 50 pages of amendments have been tabled. Once the committee stage concludes, a date will be set for the Report Stage and Third Reading. The Bill is still expected to become law this summer.
Looking forward, we expect increased regulation to limit supply over the coming year. However, the impact will depend on the timing of those changes and how they are implemented. Whilst research suggests the appetite for Buy to Let investments remains muted, plans to dispose of property were more varied and are likely to depend on individual landlords’ circumstances. Therefore, we do not expect a mass exodus from the sector despite ongoing uncertainty. And, for landlords taking a longer-term view, the five-year forecasts remain robust, with positive rental growth expected across the prime markets over the period to 2029.
If you are considering letting your property or need expert guidance on market trends and regulatory changes, our team is here to help. Contact us today for personalised advice on maximising your rental investment.
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Fraser Gregory
I started my career in 2008 at one of the largest agencies in the UK before taking the leap into the independent agency sector. I joined Plaza in 2012 and I’ve never looked back. Being part of a boutique family owned agency has been such a rewarding experience allowing me to be involved in every aspect of the lettings process. I have developed my skill and knowledge over the years by successfully passing the NFOPP Technical Award in Residential Lettings and Property Management. A nationally recognised qualification of Propertymark; The National Association of Estate Agents (NAEA) and Association of Residential Letting Agents (ARLA) I’m proud to be part of a company that has been involved in the community for nearly 50 years.
If you want 5-star reviews and want to remove negative reviews from Google, contact me via my profile; my contact details are listed there.
SM
Dear Eitan
In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you.
Thank you.
All the best.
Maurice Shasha
We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!
KS
I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.
YZ
Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!
LI
I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.
SA
Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.
KR
We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...
MS
Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years.
Thanks again for everything!
