It is fair to say December 2020 was unlike most festive periods we have witnessed. You could say that for the whole year, but with many people focusing on the end of the year, the changes from what we would normally see were illuminating.
It is true that the end of the year is often a quieter time in the rental market. With Christmas to focus on, many tenants stay put, and prepare to get ready for the challenges that come with January.
However, while the stamp duty holiday encouraged a lot of movement in the latter half of 2020 in the housing market, it seems as though there was considerable movement in the London lettings market.
December was a busy time in the London rental market
There has been a lot of discussion in the media, with one source saying December 2020 was their busiest December of all time.
Richard Davies, spoke about these findings, saying; “December is usually the quietest month of the year for the rental market as very few people want to view properties and move, however, with less Christmas parties and another lockdown on the cards, we had a very busy month and helped a record number of tenants move. The current lockdown has obviously put the brakes on the market, but once cases get back under control and restrictions ease we expect activity to catch-up pretty quickly and are anticipating a strong spring market.”
What to expect in 2021?
At Hunters Stoke Newington, we noticed it was busier than usual, and we were more than happy to assist tenants and landlords at the end of the year.
Of course, 2021 has started with a lockdown, but the rental market remains open. We are more than happy to offer assistance and guidance to you, no matter what move you are keen to make.
According to the home.co.uk site, the Average property rents in Stoke Newington are £1,643 per calendar month while the Median rent is £1,519 pcm. The site claims there is a total of 754 properties for rent in Stoke Newington as of the end of January 2021.
Current rental market in Stoke Newington
As of January 2021, this site claims that there are 254 rental properties one-bedroom properties on offer in Stoke Newington with an average rent of £1,372 pcm. For two-bedroom rental properties, there are 215 on offer, and the average rent is £1,822 pcm.
There are 141 three-bedroom properties listed for rent in Stoke Newington, and the average rent comes in at £2,177 pcm. As you would expect, there is a fall in four-bedroom properties on offer, coming in at 39, and the average rent stands at £2,463 pcm.
If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters Stoke Newington today for all your housing and letting needs.