One of Grainger’s sites in north London
(Picture: Grainger)The return of the lettings market has “accelerated” in London, according to Grainger, the UK’s largest listed residential landlord.
Chief executive Helen Gordon said that while the firm saw steady occupancy during the pandemic, some landlords struggled as supply outweighed demand and some residents moved away from the capital.
But Gordon said sentiment has picked up, and there has been a wave of renters approaching Grainger, looking for quality flats with balconies, more communal space and super-fast broadband.
Letting rates at the firm’s two new developments, in Tottenham Hale and Seven Sisters, are ahead of expectations.
The firm, which owns around 10,000 homes it rents out, said occupancy across the portfolio is 95% today, up from 89% at the end of August.
Full year like for like rental growth of 1% was recorded.
Grainger said: “Having delivered a robust performance for the year we are well positioned for a strong year of rental growth in FY22.”
Shares in the firm rose by 4p to 316.2p.
