As a London agent, we find that buyers and investors take a long-term view, recognising that the capital is unique in its position as an acknowledged safe long-term investment. As last week’s figures from HMRC show, landlords have not been put off from entering the sector. Tenants too are choosing to stay put for longer; our average tenancy is 18 months, but this year we’ve already seen an increasing number of three- and five-year rental agreements. Dexters are averaging 12% of tenancies being let out on three-year leases.
Ministers pledged to make renting more "family friendly" with longer tenancies. The government says at least 250,000 new homes are needed each year to keep pace with demand and local councils and developers need to "get real" to the scale of the challenge.