London Rents Down 22%

London Rents Down 22%

Any wonder with corporate clients, business people and students leaving London due to Covid. I remember we have had so many so called knowledgeable investors scoff at our Northern England Social Housing. They all thought that prices only go up in London. Now many of London property investors probably can not make their mortgage payments. Something like 800,000 people left the city of London. Many of these people were Eastern Europeans that went back to their countries due to covid.

So what do London landlords do? They cut the rents. They try to salvage and get whatever rents they can with the limited number of potential tenants. Compare this to NW and NE England in which social housing there are tremendous demands and limited supply. We have 5 and 10 year contracts, no voids, no management and maintenance covered up to 5,000 unless it is structural. More so prices are below 2008 levels.

Thus while London landlords are suffering a once in a lifetime property crisis, smart Social landlords are cashing in. Which would you prefer to be?