London Houses for Rent

Today I read at the FTAdviser that some tenants from Wapping and Belgravia areas are giving their notices on their rented houses because of the bankruptcy. These seem to be among the first direct consequences of the investment house collapse.

Richard Cotton, from the Cluttons agency declared “It is too early to assess the true impact of the Lehman collapse on the London property market, but it is not surprising to see city tenants who have lost their jobs already giving notice. I would expect to see more of this over the coming weeks, which is likely to result in a dip in rents in areas which are popular with city workers such as Docklands, Wapping and Belgravia. It is probable that forced sales will also increase in these key areas, as city workers are forced to sell up, whatever the cost.”

Most of the 5,000 employees of the UK branches of Lehman Brothers will lose their jobs in the following months, resulting in a degradation of the situation for the landlords of the nearby areas as a side effect.

Find out more about London houses for rent at http://www.londonhousesrent.co.uk 

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