How does 40,000 pound a week sound

I'm not talking about a salary I am talking about the new luxury property up for rent in London's prestigious Mayfair, the property known a the "James Bond house"due to its high tech gadgets has been placed on the market, available to rent at £40,000 a week. For this money you get, seven bedrooms, eight reception rooms, an underground car park, swimming pool, a gym and a home cinema.

Although this house may be out of many of our budgets the rental price does show that the market is strengthening, with letting prices back on the rise in the London area. If you where to compare rental prices for houses in the London area now to those of 18 months ago you will see vast improvements. A reason for the rise in rental prices is due to reluctant landlords putting their rental properties on the market to sell as they are finding the economic downturn a strain on their bank accounts.

The realtor for the Bond house Lucy Morton has said, "This level of rent is a first. The market is really strengthening. Lettings are a key barometer of how the City is doing. The fact that some reluctant landlords are moving back into the sales market is also creating a shortage of rental property, which is pushing up prices."

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October 14^th 2009

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