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&#39Ideal time to enter lettings market&#39

Letting agent Ironsides believes there is a wealth of opportunities available to private investors in the London property market.

It claims central London is experiencing a shortage of rental properties in every price range and now is an ideal time for investors to enter the market.

Proprietor Jacqueline Ironside says while there is no lack of purpose-built investment properties, there is a shortage of quality properties with character and space. She believes investors stand to gain solid returns from property conversions.

She says yields remain solid at around 8 per cent and capital appreciation is good. But she warns that talk of a lettings boom is premature because the market has not yet fully recovered from the lettings recession of the last two years.

She says landlords must be made aware that corporate tenants, which make up the majority of renters in central London, will not pay inflated rents. If they feel prices are increasing too fast, she warns they will move out to the commuter belt.

Ironside says: “As the lettings recovery is from such a low base, talk of a boom is misleading although there is a very clear improvement.”

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