By Laurence Grahams
Statistics show the number of people renting property, as opposed to buying, is rising, a trend that is being witnessed in SW19, say Wimbledon letting agents. One of the UK’s biggest estate agency groups says the number of prospective tenants is outstripping supply in some areas, with houses and flats to rent in Wimbledon always in demand.
Becoming a tenant in Wimbledon
For many, choosing to rent is a lifestyle choice rather than something born from an inability to purchase a property. Although becoming a tenant requires a much smaller initial financial outlay – and this is an attractive facet in its own right – renting gives the occupier more freedom to move, whether that’s for professional or social reasons. Flats to rent in Wimbledon are often requested by young professionals and people moving out of the family home for the first time. Renting is also a great way of testing a new area or a new co-habitation arrangement as the risks are lower and commitment periods shorter.
Not just for the young, free and single
Houses to rent in Wimbledon are often snapped up by families locating to the area for work commitments, especially amongst those who are new to the area, those on a company-run relocation programme and families not in an immediate position to buy. It’s also common for parents to move to the SW19 postcode to be in the catchment for the best schools, such as the well-respected Wimbledon Chase Primary School, and if time is against them, renting is often the quickest way to secure an address.
And don’t forget the ‘silver pound’
There’s also evidence that older tenants are on the rise. One agency chain says they have witnessed a 6% annual rise in the number of private tenants aged 50-plus. This can, in part, be attributed to the desire to release equity trapped in an owned property. Over-50s are becoming astute in how they plan for their retirement and realise swapping homeowner status for a tenant one can free cash for holidays and their children, as well as altering how the State will treat them should they need care in later life.
Why rent in Wimbledon?
Wimbledon letting agents agree that the area’s village feel, close proximity to central London and connections to the leafy Surrey countryside make for an appealing location. Wimbledon tube station and good access to the A3 road network allow residents to move across London and out to the home counties with ease. There’s also the charm of the All England Lawn Tennis Club, the green expanse of Wimbledon Common and some fantastic properties to rent in SW19 that makes Wimbledon a natural choice among discerning tenants.
Choosing the right rental property
Wimbledon lettings agents hold portfolios of different property to rent in SW19. Many will be offered on 6 to 12-month tenancies but there may be some flats or houses to rent in Wimbledon offered on a short-term basis. A good start is to identify what type of property you are looking for; how many bedrooms you need; how close to public transport you need to be and how much rent you can afford on a monthly basis.
Laurence Grahams is a Wimbledon-based property consultant, helping tenants find the best flats and houses to rent in Wimbledon, Merton, South West London and Home Counties. He works with some of the most experienced Wimbledon letting agents to uncover property market trends and opportunities.
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