Navigating Rising Rents: What Putney, Richmond & Barnes Tenants Need to Know

The 2024 Rental Market: The Numbers

Average UK private rents rose by 3.9% in the past year, reaching £1,270 per month in October 2024.*

Zoopla predicts another 3-4% rent increase in 2025, continuing the upward trend.

 In South West London, rents remain high due to strong demand, with properties in desirable areas like Putney, Richmond, and Barnes seeing continued competition among tenants.

Why Are Rents Still Rising?

The ongoing increase in rental prices is driven by several key factors:

A Shrinking Supply of Rental Homes

Many landlords are selling their properties due to tax changes and stricter regulations, reducing the number of rental homes available. This has created more competition for properties, keeping rents high.

 High Demand in South West London

• Commuter convenience: Even with hybrid working, demand for well-connected areas like Putney and Richmond remains strong.
• Lifestyle appeal: Green spaces, high-quality schools, and riverside living make these areas particularly desirable for renters.

Changing Rental Rules

The Renters' Rights Bill aims to:
✅ End no-fault evictions, giving tenants more security.
✅ Tighten repair and maintenance rules, ensuring better property conditions.
These changes could influence how landlords manage properties and negotiate leases.

How Tenants Can Plan for Rising Rents

Know Your Rights
Familiarise yourself with rental laws, including limits on rent increases and landlord responsibilities for repairs.

Plan for Increases
If your lease is up for renewal, budget for potential rent rises or consider exploring more affordable options within South West London.

Talk to Your Landlord
Landlords value reliable tenants. If you're concerned about rising costs, negotiating a longer lease or discussing rental terms might work in your favour.

Looking Ahead: Smart Renting in South West London

The rental market is changing, but tenants who stay informed and proactive can still find great homes in Putney, East Sheen, Richmond, and Barnes.

Need advice on navigating the local rental market? Get in touch today.

(Source: Zoopla)