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Marc Da Silva reports that demand for properties to rent in Central London is slowing, but the number of people looking for houses and flats to rent in Central London should pick up again in the new year, persuading more homeowners to let their home rather than sell up, resulting in an even greater shortage of flats and houses for sale in Central London.

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Marc Da Silva

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020 7224 4994

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www.sandfords.com

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Landlords in Central London currently need to price competitively, as demand for properties to rent in Central London falls back as we head towards Christmas, warns letting agents Sandfords.

The festive season slowdown in the market is now upon us, as many people turn their attentions towards buying gifts rather than renting property, but demand for houses and flats to rent in Central London has been quieter than normal.

Relocation activity is focused on cheaper properties, while high unemployment is having a negative impact on some tenants, who are being forced to better manage their budgets.

But despite the recent seasonal slowdown in the Central London property market, 2012 has been a great year for landlords in the capital, with rents now at an all-time high in Central London.

High national and international demand for properties to rent in Central London has resulted in many would-be vendors opting to let out their properties instead of selling in order to take advantage of rising rents and attractive yields.

"High rents have persuaded many property owners to remove their flats and houses from the sales market and let them out instead," said Julia Garber, letting manager at Sandfords Central London estate agents.

The increase in the volume of homes to let has resulted in a chronic shortage of flats and houses for sale in Central London, which in turn has helped to push property prices higher.

Julia Garber added: "The resulting shortage of properties for sale has helped maintain Central London prices - some figures estimate the drop in the supply at as much as 30 per cent.

"Unfortunately, the upsurge in properties coming onto the rentals market has meant that rents are now under pressure. Tenants are demanding more realistic rent levels."

Landlords in Central London can still expect superb returns on their investment, but Sandfords’ advice is to be prepared to negotiate on rents rather than leave a property vacant over the Christmas period.

Looking ahead to 2013, Sandfords, a Central London specialist, generally expects rents to continue to increase at a single-digit, but above inflation rate. There is still good demand for rental properties which will continue to strengthen as London grows further as a hub and a popular place to live and work.

For further information, please contact Sandfords estate agents on 020 7224 4994 or visit www.sandfords.com.