Will housebuilding worries mean flats in London become more in demand?
Hi there,
Yes it is true. The flats in London are likely to become more and more in demand. As the housing market here becomes continuously expensive to home buyers, more will require the use of rental properties, which means more demand will be on buy to let property owners.
Over the past few years, a growing number of homebuyers, including property investors, have had one eye cast on the London housing market, with a view to investing in houses and flats across some prime locations of London. Like properties to rent in South-Kensington, Marylebone, Mayfair etc are in higher demand as these are the prime central locations of London.
It could be that property to rent in London and around the UK is a more attractive proposition after one of the country’s biggest home construction firms said it would be more cautious about buying land. The Guardian reports that Persimmon is taking a tentative approach as a result of ongoing problems with the mortgage market along with government public sector spending cuts, despite a 26 per cent rise in sales during the first-half of 2009. Its finance director Mike Killoran told the publication that the company is hoping the availability of home loans improves over the next year, however, recent figures from the Bank of England’s Credit Conditions Survey indicated otherwise. He said: “There are not a lot of good deals on the market. Landowners are also cautious.” This point may persuade more people to consider looking for property to rent in the London borough of Hammersmith and Fulham, as might the words of one former Labour minister, said before the party was voted out of office. M
