Renting in London: tenants’ return to the capital sparked ‘conveyor belt’ viewings and rent hikes amid drop in supply

Tenants in London are facing fierce bidding wars and block viewings as they face rent hikes and rent increases. This is due to the capital’s rebounding rent market. The flats were outrageously expensive for the advertised prices. It was absurd. It was insane. “He said it would likely sell for GBP2,900 so we decided not to apply. Luna moved in with friends after she was unable to find anywhere else before February’s move out date. She eventually found a Leyton apartment with two bedrooms that was closer to her Tottenham studio. She said that it was emotionally draining and she now feels like she’s starting from zero. It was finally let to four people for GBP4,000 per monthly, which is GBP1,200 more than the previous rent. Ashley Harris, branch director, said that they are overwhelmed as soon as they go online. Block viewings are the only way to get people in. It’s almost like a conveyor belt. “While Patrick Henry, a south-west London agent, recently let a four-bed Clapham south house-share for GBP4,250 or GBP1,050 each room. It was originally listed for GBP3,900. Rent control policies are criticized by critics who argue that they can cause a shortage of supply if landlords choose not to rent out their properties, driving rents higher.