Fewer jobs and available houses 'could make people rent in London'
The number of people looking for property to rent in London could rise after a UK body predicted that cuts made by the coalition administration may swell the number of people on waiting lists for homes.
According to the National Housing Federation, around 200,000 jobs could be axed or not created as a result of widespread budget savings set to be announced by Chancellor George Osborne tomorrow (June 22nd).
Furthermore, they suggested that another 350,000 aspiring owners will join the waiting list for a home in the UK.
Earlier this year, the director of external affairs for the Federation of Master Builders Brian Berry called for the government to do more to increase mortgage availability as it would help both the housing market and the construction industry.
However, with suggestions that potential purchasers will be disappointed in their quest to secure a home, perhaps more people will look for property to rent in the London borough of Enfield or elsewhere in the country.
By Chris Price
Published 21st June, 2010
© 2010 Estates IT Limited
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More people may be encouraged to look for property to rent in the London borough of Enfield or elsewhere in the country after a housing body forecast that waiting lists for homes would increase under government spending cuts.