Flats to rent in London more popular with low buyer demand?
People who are hoping to secure flats to rent in London may be interested to learn that buyer demand throughout the UK housing market dropped in July, according to new figures.
Statistics released by Nationwide showed the value of properties fell 0.5 per cent, with conditions worsening due to a lack of interest on the parts of purchasers.
Martin Gahbauer, chief economist at the organisation, said the data revealed people are still not keen to invest in a new residence.
He remarked: "A combination of restrictive credit conditions and uncertainty about the future economic outlook continues to limit the pool of buyers to those with relatively large financial resources."
Mr Gahbauer also highlighted that many who may be considering a new home still do not have the confidence to take the first steps yet.
Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, stated the Nationwide figures are broadly in line with results from other indices.
Posted by Andy Britten
Published 29th July, 2010
© 2010 Estates IT Limited
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