UNDERSTANDING
LONDONERS
TENANTS ARE
PREPARED TO
COMMIT QUICKLY
A HIGHLY
SEASONAL MARKET
RENTING CAN
BE THE TENURE
OF CHOICE
Near the end of the tax year our Corporate
Lettings team see searches peak as
companies apply relocation budgets to
senior movers within organisations. In May
and June we begin to see interest from
students and families moving to school
catchment areas, and September sees the
peak for tenancies as those who entered
the rental market on yearly agreements
continue to renew or move.
TENANTS GO
ON A LEARNING
JOURNEY
In a recent survey only 7% of
Foxtons' respondents rented the
first property they viewed, with
84.6% of tenants viewing three
or more properties before
making a decision. With Build to
Rent being a relatively new
concept in the UK, many
tenants' searches will begin with
regular London housing stock. It
is the role of estate agents to
help potential tenants explore
the benefits of Build to Rent
developments.
Whilst renting was previously
seen as the poor relation, a
temporary stop-gap before
buying, it is now a favoured,
long-term, flexible choice for
many. Almost two-fifths (39%)
of tenants in the Foxtons tenant
survey chose to live in a rented
home because it satisfied their
need for flexibility, fitting their
lifestyle and life stage.
57%OF TENANTS
OFFERED
on the property
they moved into
WITHIN 1 WEEK
of registration
26 The London Report | Understanding Londoners