Should people rent while waiting for a housing bargain?

Should people rent while waiting for a housing bargain? Last month, property prices in the UK increased by 0.2 per cent, according to new figures.

The Hometrack research revealed that this was the third consecutive month of growth, following the recent housing market slump.

And Jane Marr, company director at the Little House Company, said that 2010 was likely to see the start of a real period of recovery for the country's housing market, as confidence returns among both sellers and buyers.

However, she added: "Buyers are still in search for bargains and may be prepared to wait to next year to find a new property."

Such comments may mean that Britons wish to look for flats to rent in Hammersmith or another borough of London while they wait for their perfect home to come to market - particularly as prices in the capital can be higher than elsewhere in the country.

The Land Registry recently revealed that the average house price in England and Wales increased by 0.9 per cent in September to £158,377.

Written by Ben Carter