After an unexpected period for the UK's lettings market, which saw many tenants search for larger properties with more space as soon as they were permitted, the London rental market has begun to see a return of interest in smaller properties in prime locations. With many firms supporting a return to the office for their staff, a recent survey shows that interest in the pied-a-terre sector of the London market has increased over the summer months.
Following months of pressure from various bodies representing landlords and tenants, the UK government has provided new funding for local authorities across England to support tenants who have fallen into arrears due to the effects of the Covid-19 pandemic. The £65 million fund will be allocated via local councils to ensure vulnerable people living in rental accommodation will not end up homeless this winter due to financial problems related to the pandemic.
The UK's supply of rental homes is once again coming under pressure as demand from tenants across most regions continue to recover from the lows seen during the height of the pandemic. Two separate surveys report that demand from tenants is rising across the country with London in particular experiencing a sustained period of increased interest.