Lettings agency JLL says improved interest in East London’s lettings market is being accelerated by the expected surge in demand from students returning to college in September.
The agency says its Canary Wharf team has enjoyed a record month with local lettings director Lauren Hatcliff saying: “The current Canary Wharf market is the busiest I’ve ever seen it. Enquiry levels for us are up by 55 per cent in June 2021 compared with the same time last year, and move-in levels are over 150 per cent higher than they were in June 2020.
“This increase is predominantly being fuelled by the return of international students who are mainly looking for new high-end developments in Canary Wharf.”
She insists that one shift in demand her office has seen is the renewed focus on the convenience which Canary Wharf brings - something which fell down renters’ list of priorities at the start of the pandemic early in 2020.
Lucy Morton, head of JLL’s residential agency, adds: “We are anticipating a further flurry of interest in the coming weeks. International students are, once again, looking to London as somewhere to experience and many are already signing tenancies in all areas of London for August/September having conducted virtual and video tours.
“We are already seeing a shortage of available properties in some areas so with this increase in demand in these areas we anticipate a rise in rental values.”
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