The winter lettings market in London

The winter lettings market in London

The seasons have changed, the leaves have fallen and it's time to readjust to darker nights and shorter days. When winter comes it's not just nature that shifts - there are other subtle differences that happen too. As letting agents in London we have a great deal of experience when it comes to understanding how lettings change as the seasons do. This is our overview of what you can expect from the winter lettings market in London this year.

Strong and stable

Despite falls in average rents last year, in 2019 this has evened out and the predictions for London for the winter are that the market will be "strong and stable." Rents continue to be steady and there have been increases in renewals and relets. Brexit has been a major worry for some landlords, as London renters are very international. However, as yet we have not seen any impact - tenants from the EU still make up 40% of the lettings market in London. So, going into winter it's clear that London is still a great place to be a landlord.

Tackling empty properties?

This time of year can sometimes be problematic in terms of properties sitting empty. However, recent data shows that occupancy is currently around 94% and properties in London are left vacant for just 31 days on average before a new tenant moves in. One way for worried landlords to ensure that there is no drop off in income during the winter months is to work with a letting agent who will be proactive when it comes to ensuring that the property remains profitable. A mix of long-term lets and short-term options, such as AirBnb offers an effective solution.

The trend towards smaller units

Perhaps unsurprisingly, given that many people are currently economising, we are going into winter on the back of a trend towards smaller rentals. One-bed flats are incredibly popular and often deliver better rental yields for landlords. Crucially, tenants expect optimised use of space and stylish design no matter what the size of the property.

All the usual winter considerations

Winter can be a problematic season for landlords as there is a lot more that can go wrong with a property at this time of year, from boiler breakdowns to leaks. That's why it's so essential to have a good team of contractors on hand to deal with issues. Equally important is a professional and efficient managing agent to help deal with any problems that arise before tenants become upset by them and relationships start to struggle.

This time of year offers a wealth of opportunity for landlords in London, especially given the increase in tenant numbers and the fact that there are fewer properties available. If you need lettings or management support through the winter season we can help - contact us to find out more.


Residential lettings
We pride ourselves on being genuine industry experts, providing a positive experience, from enquiry to after care. Storeys focuses exclusively on lettings, and we value properties, we don’t just list them. Knowledge and innovation mean we can be competitive on costs while also delivering an individually tailored service.
Property management
Storeys is a bespoke offering based on the fundamental principle of value for money – we want happy customers. Paperless tech and eSigning deliver efficiency and convenience, no high street office minimises costs. The result is a streamlined service nimble enough to tailor what we do to suit your needs.
Aesthetics, natural light, building quality, and overall finish – these aren’t ‘extras’ in a Storeys valuation, they’re as much a part of the process as size, condition and location. We look at individual property potential, not generic criteria. Factors like space for modern living arrangements, such as flexible working, are incorporated too. Our valuations are all the more accurate and successful for it. There is a perfect tenant for every property if you know how to find them.
Short-term lettings
Providing value for tenants and continuity for landlords, Storeys short-term lets run from 4 weeks to 6 months. We work with major London relocation teams and a global contacts network to match international tenants to perfect London properties.
Vacant property Management
We can manage your vacant property in-between tenancies or refurbishment, giving you peace of mind that the property is being looked after and inspected on a regular basis.
Superior Marketing
There is just no comparison between static photos and VR when it comes to property marketing. VR allows tenants to do a virtual walk around and get a realistic feel for the property - their expectations are grounded in reality, and properly managed. This makes VR a very effective tool, not just for generating interest and viewings but also converting those to offers. That’s why we partner with VRPM to create a virtual reality perspective for every property we handle.
Airbnb Management
We can manage your Airbnb account and make sure each booking runs smoothly, keys are always available for handover and the property is ready for the next occupation. This can run very well alongside our short-term corporate letting service.
Rent Protection
If your tenant defaults on the rent, Storeys have you covered. We also cover your legal expsenses and pay you rental income if your property is vacant whilst we remarket for new tenants. Don’t worry Storeys have your back.*ask a member of the team for more info. This service is included for every Storeys managed property.