Could flats to rent be more appealing as Nationwide reveals price rises?
Brits looking for a home may be tempted by flats to rent in the London borough of Croydon when they hear further reports of price increases in the UK. According to Nationwide’s latest housing index, the average cost of an abode was £166,757 in September. This is compared with £166,507 in August, which represents an increase of 0.1 per cent. It was also an annual rise of 3.1 per cent, according to the figures from Nationwide. Martin Gahbauer, chief economist at the organisation, said it is unclear what will happen next in the property market. He claimed it will depend on whether the flow of dwellings into the industry continues “and on the extent to which existing sellers are willing to compromise on their asking price in order to make a quicker sale”. This comes after figures from the Land Registry showed the average cost of an abode in England and Wales to be £167,423, which is an annual increase of 6.7 per cent.
