Grainger sees improved sentiment in London’s home rental market

- Advertisement -


Tea

According to Grainger, Britain’s largest listed residential homeowner, the return of the lettings market in London has “accelerated”.

- Advertisement -

Chief executive Helen Gordon said that while the firm saw steady occupancy during the pandemic, some landlords struggled with supply over demand and some residents moved away from the capital.

- Advertisement -

But Gordon said sentiment has grown, and Grainger has had a wave of renters looking for quality flats with balconies, more communal space and super-fast broadband.

Giving rates on the firm’s two new developments at Tottenham Hell and Seven Sisters are ahead of expectations.

- Advertisement -

The firm, which owns about 10,000 homes, said occupancy in the portfolio is 95% today, up from 89% at the end of August.

Like for Like rentals posted 1% growth for the full year.

Grainger said: “After delivering a strong performance for the year, we are well positioned for a strong year of rental growth in FY22.”

The firm’s shares rose 4p to 316.2p.

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox