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Specialists in Sales, Lettings and acquisition of prime residential property in Central and North West London sandfords Maida Vale Rental Market
Specialists in Sales, Lettings and acquisition of prime residential property in Central and North West Londonsandfords
Maida Vale Rental Market
Rental market in Maida Vale
The result of the general election has electrified the prime Central London property market, says Andrew Ellinas, the Managing Director at Central London letting agents Sandfords. While a proposed mansion tax is now off the cards there was also positive news for property investors, with the threat of rent caps and mandatory longer tenancies lifted. It's a boost for existing property investors looking to maintain or grow their portfolio as well as encouraging for first-time landlords looking to make a move into Maida Vale and the surrounding areas.
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In terms of average rental values for new tenancies over the past 12 months (1st April 2014 to 31st March 2015 compared with 1st April 2013 to March 2014), the borough of Westminster, in which Maida Vale is mostly located, posted an increase of 8%. This takes the average monthly rent in Westminster up to 1,489. The latest figures also showed that from February 2015 to March 2015, average rental values in the capital overall increased by 3.8% (1,443pcm compared to 1,390pcm).*
*Figures taken from the March 2015 HomeLet Rental Index
Who's Renting in Maida Vale?
Central London letting agents are seeing an increase in rental enquiries, with many international tenants looking for a base in Maida Vale when business brings them to London. As well as contract workers, many properties to rent in Maida Vale are occupied by 'try before we buy' Londoners, who choose to rent in W9 to experience the area as a local before making a purchase. Of course, the areas bohemian vibe and close proximity to the BBC's music recording studios on Delaware Road means there are a number of artists and celebrities looking for short-term tenancies in Maida Vale.
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Properties to Rent in Maida Vale?Tenants, especially those settling with families, often seek out the white stucco-fronted townhouses that line W9. Roads near the private garden squares - including in Randolph Road, Randolph Crescent and Warrington Crescent - are most coveted. Maida Vale has a thriving Monday-to-Friday pied--terre scene, and the neighbourhood's mansion flats are popular with professionals looking for a centrally-located midweek base. As always, new build properties are popular with both landlords and tenants, with the luxury apartments at the Amberley Waterfront development in the Little Venice enclave finding a keen audience.
Maida Vale area highlights
Maida Vale and its Little Venice offshoot enjoy a canal-side setting in London, providing a perfect spot to watch the colourful barges and canal boats bob along. The laid-back way of life in W9 is aided by a strong caf culture, with numerous coffee shops, delicatessens and restaurants tucked away in the side streets. More mainstream shopping takes place in Clifton Road and Clifton Gardens.
Places of interest include The Warrington Hotel (food, drinks and rooms); Clifton Nurseries (a beautiful garden centre with an enticing caf) and Paddington Recreation Ground (Westminster's largest park covering 27 acres and offering a gym, athletics track, bowling green, cricket pitch, tennis courts and caf).
Contact UsFor For more information about properties to rent in Maida Vale, contact Central London letting agents
Sandfords Property Management
6 Nottingham Place, London W1U 5NA
+44 (0)20 7099 1133
www.sandfords.com
