As our autumn review indicated, the market was lending itself to tenants. This was partly driven by the increasing number of available properties, many landlords of which were owners who had decided to test the lettings market, having been disappointed in their sales interest at that time.

The January market started with a buzz, with tenants not ‘talking about moving’ but now ‘on the move’. These tenants are those who had been keeping an eye on the market and others who are moving to London afresh, as, for some, our very weak pound is favourable.

Rents are generally lower than last year but only c. 10%-15% and, if the demand continues to rise, we expect these to recover in time.

Properties prepared to the standards tenants require continue to perform the best and this month is no exception when we have agreed lets at both the asking price and over. Those properties which are not up to the mark still disappoint the tenants in the first case and subsequently the landlords when low offers are put forward. Today there are too many properties of this nature which do not tick the boxes and landlords should be encouraged to bring them to the required standards in order to have a tenant sooner rather than later.

We look forward to the refreshing atmosphere of the 2009 market to continue as we go into the spring.