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LHA London Offers Affordable Accommodation amidst Rising Demand for Rental Properties

[LONDON, 01/19/2018] -- London will become ‘a city of renters’ by 2025, with 60% of Londoners renting a home in seven years’ time. This forecast from PwC is in line with a 2016 report from Rightmove, which predicted a rise in demand for rental properties in the coming years. The report stated that by the end of 2016, 20% of households would have been renting a home. This would require an additional 1.1 million rental properties to meet the demand.

Researchers fear that meeting the growing demand for private renting and the changing face of tenant demand is the greatest challenge for both the housing industry and policy makers.

Despite the foreseeable surge in rental rates over the next years, rental housing provider LHA London stays committed to its objective of providing affordable accommodation.

Rising Rates in London

The research from Rightmove lends insight into tenant and landlord expectations.

The findings reveal that almost two-thirds of tenants expect to rise over the next few years, especially those living in London. Proximity to the capital tends to mean higher rents, which can go up to £48,000 per year.

In London, where affordability is most stretched, landlords will face a trade-off between pushing for higher rates, thus risking arrears, or choosing lower rental growths but more stable revenue.

LHA London Provides Inexpensive Housing Options

Amidst debate over increasing rental prices, LHA London, a registered charity located in the heart of London, remains steadfast in its commitment to providing affordable accommodation. As a charity, the organisation’s objective is to offer housing opportunities for young professionals and students while continuously looking for ways to improve value for guests.

LHA’s location within zone 1 and 2 means lower transport costs for residents compared to those residents who live in Greater London, and its all-inclusive pricing is an important factor in attracting potential clients.

About LHA London

LHA London was created in 1940 to provide accommodation for people made homeless by the Blitz. Today, the newly refurbished hostel caters for students, young professionals and those living in London for the first time. Managed by a voluntary Board of Trustees, LHA is made up of 13 large hostels providing affordable housing for nearly 2,000 people.

For more information about LHA London, visit http://lhalondon. ...

News Release: LHA London Offers Affordable Accommodation amidst Rising Demand for Rental Properties
Submitted on: January 19, 2018 02:00:09 AM
Submitted by: Arthur Donovan
On behalf of: