Are more Londoners choosing to rent?
Homeownership is falling, according to new research, which could point to a growing trend for Britons embracing the flexibility and cost savings that renting their home can afford.
According to the Survey of English Housing, the number of people choosing to buy their own property has fallen over recent years, which may be as a result of the house market crash.
In light of this, the Council of Mortgage Lenders has claimed that this trend is only likely to continue due to first-time buyers increasingly struggling to afford to but, teamed with a fall in supply.
Since the recession, many buyers may have found they have had to save a significant sum in order to cover the cost of a deposit, while securing a mortgage in the first place could have been difficult.
As a result, more people may be considering flats to rent in London borough of Docklands or another part of the city, rather than buying in the same area.
This could offer them the possibility of saving money, along with a more flexible lifestyle.
Renting a home may be particularly advisable after figures from the Land Registry revealed property prices in the city have increased by 10.5 per cent in the last year.
Written by Martyn Glynn
Published 4th March, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
People hoping to move to the capital may increasingly be on the hunt for property to rent in London in areas such as the London borough of Docklands, it has been reported.