The Chiswick rental market is characterised by stock shortages and high demand.
Although house prices look like they're on the way down, the local rental market is currently booming.
Average rents grew by 11.5% in 2010, according to the latest analysis from Savills. As a result, rents are forecast to grow this year by an average of 8% across London.
The uptake in the sales market has reduced the supply of rental properties available as accidental landlords returned properties to the sales market. Additionally, needs based family demand has persisted, pushing rental values up.
[caption id="attachment_174" align="aligncenter" width="168" caption="Rental market thriving in W4"]
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OliverFinn's Christian Harper tells
ChiswickW4.com: "The rental market is good, not amazing and not booming. Get the price wrong and your property will sit like suet pudding, get it right and you may need to replace your doormat. I am extremely fortunate to live and work in an area that is so desirable and whilst this remains to be the case, we can all afford to keep increasing pricing until we reach critical limits or until our neighbours undercut us!"
Renting is now considered a perfectly acceptable way of life in the UK and there are four main reasons: 1) people simply can’t afford to get on the housing ladder, 2) they want to try an area before buying, 3) because they need to rent out their existing property whilst renting a bigger or smaller home, and 4) people move to a different area to be close to schools or loved ones.
