New York Habitat Blog

The 2009 2nd half and Full Year London Vacation Rental Market Report is now available on the London Furnished Apartment Market Report website. The report covers the latest information about London vacation rentals including information about the 2nd half and full year 2009. Data from 2007 and 2008 is provided for comparison.

The 2009 London Vacation Rental Market Report finds that New York Habitat is still growing its business in London despite the down economy in 2009. Overall the number of apartment bookings grew by 40%. Furthermore, the average apartment rental price also climbed in 2009. For find out about all of the causes for these gains, read the London Vacation Rental Market Report.

2009 London Vacation Rental Market Report

Some of the major factors affecting the London market in 2009 included:

•    A declining value of the British Pound, making London a more attractive destination for Americans and people in the countries using the euro
•    An increased inventory of apartments in London, making it easier to find the perfect match for our customers
•    The global recession which made clients more cost conscious

With many within the industry predicting that 2010 will be a year for recovery in the travel market, we expect more positive results for the London vacation rental market in 2010. One factor to continue to watch is the value of the pound. If it returns to levels seen in 2008 then the number of rentals will likely fall.

New York Habitat is happy to offer this comprehensive look at the London Vacation Rental market via our report. We will continue to provide up-to-date information via the New York Habitat blog and the London Furnished Apartment Market Reports web page. Check back this summer for the 2010 1st half London Vacation Rental Market Report.

If you have any questions or comments about the London Vacation Rental Market Report, share them below.

The 1st half 2009 London Vacation Rental Market Report contains all of the most up-to date information about the London Vacation Rental Accommodation market. With 2009 being a difficult year for the travel industry the findings in this report include the details necessary to make informed decisions in the London real estate market.

London Vacation Rental Report 1st half 2009

This report contains information about the 1st half of 2009 and for comparison purposes it has data from the 1st half of 2007 and 2008 as well. Some of the key figures contained in the report include:

• Percent of rentals by neighborhood
• Range of prices by apartment type
• Percent of apartments rented by type
• Average, median and mode apartment prices
• And more

Some of the main conclusions in the report include:

• Despite a weak economy which has hurt the travel industry, New York Habitat’s business in the London Vacation Rental market has remained strong and continued to grow.
• Large rentals (2-bedrooms and larger) remain  popular products in London
• London has regaining popularity with American tourists as the British Pound fells compared to the U.S. Dollar.

New York Habitat looks forward to continuing their success in the London Vacation Rental Market. Major factors that will continue to influence the London vacation rental market are pound conversion rates and the world economy.

New York Habitat has created the London Furnished Apartment Rental Market Reports section on our website, where this and future reports will be available.  The next London Vacation Rental Market Report will be published in the winter of 2010 and contain details about the 2nd half of 2009.

Please let us know below what you think of this report and if you have any suggestions for future London Vacation Renal Market Reports.  You can also e-mail the London Market Report team at marketreport@nyhabitat.com

New York Habitat is proud to release the first in its series of semi-annual furnished London Vacation Rental Market Reports. This report covers the latest information about the London Vacation Rental Market and includes data about 2006, 2007 and 2008. During the period we have seen the number of apartment rentals in London grow by over 90% and we expect to see a continuation of this trend as we work to build our inventory of London vacation rentals and our name recognition in this growing market.

London Vacation Rental Market Report 2008 cover photo

The market report contains statistics and analysis about the vacation rental market during 2006, 2007 and 2008. Some of the statistics that can be found in the report include:

• Percent of rentals by neighborhood
• Range of prices by apartment type
• Percent of apartments rented by type
• Average, median and mode apartment prices
• And more

Some of the main conclusions that the reports finds include:

• Weakening apartment prices caused by both the global recession and declining apartment prices in the London and U.K. markets
• Strong demand for lower cost apartments in London as the pound has fallen compared to the euro and dollar in recent months
• Decreasing lengths of stay as people look for shorter and less expensive vacation options

The report concludes that 2009 will likely bring more of the same, but the decline of prices is likely to slow if the pound remains relatively weak compared to the dollar and euro.

New York Habitat has created the London Furnished Apartment Rental Market Reports section on our website, where this and future reports will be available.  The next London Vacation Rental Market Report will contain data about the 1st half of 2009 and will be released in the summer of 2009.

The long-term goal is for this report to be an informative guide for owners who decide to lease, and vacationers and other renters who are looking for housing options during their stay in London.

Please let us know below what you think of this report and if you have any suggestions for future London Vacation Renal Market Reports.  You can also e-mail the London Market Report team at marketreport@nyhabitat.com

The London Housing market is one of the most expensive in the world. Finding a reasonably priced apartment in a popular neighborhood can be difficult and landlord requirements can be even steeper. New York Habitat’s Corporate Housing Services is well equipped to handle you corporate relocation needs.

On February 7th 2007 The New York Times included an article “Searching, and Finding, in Costly London”; the article mentions that the cost of renting an apartment whether furnished or unfurnished is higher than New York and are often quoted in weekly rates because the monthly rates just sound too high. The article specifically mentions the Kensington neighborhood where rent can be as high as 4000 pounds a month for a nice two-bedroom apartment. Additionally the London landlords often require higher security deposits of 1 and ½ months or even 2 months rent.

New York Habitat’s Corporate Relocation Service offers apartments through out the city in various price ranges and has relationships with landlord to ensure that our customers are treated fairly in the sometimes challenging market.  Some of the offerings include:

- This spacious and bright Studio Furnished Apartment in City - Islington (LN-371), located just a few minutes from London Bridge.

- Or this modern City - Islington 1-bedroom Apartment (LN-287) which will make feel like home.

- But you may prefer this corporate style 1-bedroom Furnished Apartment in Kensington (LN-78), very close from the Underground, it offers a quick access to the West End and the City.

By working with New York Habitat Corporate Housing Services we can take the stress out of finding the perfect apartment. Our agents have many years experience in the market and can ensure that all of your need are met during your apartment search. If you are interested in working with our team contact Charles Rearden at +44 (20) 7953 3996 or charles.rearden@nyhabitat.com.