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London tenants’ new love affair

Tue 14 Jul 2020

Paul Bennett, Director

"Why, Sir, you find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford."

This famous quote is just as pertinent now as it was when penned by Samuel Johnson back in 1777. Johnson was reputed to hate spending time alone – a true ‘man about town’ always going out to enjoy what London had to offer.

 

Despite our unique situation, we are seeing many Samuel Johnsons easing their way out of lockdown and back into the bars, boutiques and restaurants around St John’s Wood. Residents have no doubt that museums, theatres and the other attractions will soon follow suit and open their doors once again. When the sun is shining, the al fresco tables full and the royal parks full a hive of activity, it almost makes lockdown look like a carefully planned summer event. I’m sure you’ll agree it’s great to feel a little positivity.

 

The same is true of our London rental market. Of course there will be people looking to leave the capital in pursuit of the countryside – or perhaps downsize to buy a second property outside of the city – but there is also a resolute feeling that everything will come good, and that our ‘new normal’ really isn’t that bad.

 

What renters are doing is adjusting their ‘must have’ list to accommodate a new lifestyle. New analysis of tenant demand in London sheds light on the seven top features home movers are now looking for in their next rental property. These are:-

 

  1. Parking or a garage - 26%

  2. Garden - 25%

  3. Balcony or terrace 23%

  4. Nearby shops, supermarkets, gyms and swimming pools - 23%

  5. Porter or security - 23%

  6. Furnished let – 20%

  7. Pet-friendly rental – 11%

 

The research by Spotahome also looked at today’s rental wish list on a borough-by-borough basis, discovering that balconies were the most requested feature in the borough of Westminster, where Behr & Butchoff is particularly active.

 

“We are seeing a shift in what is deemed as a ‘must have’ feature and also a desire to be closer to green, open spaces,” comments Paul Bennett, a director at the agency. “Our younger audience is especially keen to stay on in the capital, especially taking up rental properties that offer flexibility and lower set up costs when compared to buying.”

 

“Despite being an urban metropolis, London is actually a very green city with garden squares and parks being joined by rooftop terraces and some peaceful waterways. We are helping tenants find solace and helping them connect with a new London lifestyle from our office here in St. John’s Wood. We’d be happy to help all movers, including those who have a property to rent out or sell.”