One writer 'selling to rent'
By November, one property writer will have completed the sale of his house and have looked to move into rented accommodation, but he admits that he wished he had taken such steps in 2007.
In an article for This Is Money, editor Andrew Oxlade claims that the "dismal" outlook for property prices was not the only factor in his consideration.
In addition, he claims that the sealed bid has returned to his borough, while property valuations have risen by 20 per cent in some cases.
Mr Oxlade states: "I'm done with absurd stamp duty bills [...] I'm done with DIY; with bills for new patios and bathrooms; with new central heating systems; with rip-off drain cleaning firms; I'm done with property ownership."
And while he admits he may well buy again one day, for now he is happy to rent.
Britons looking for flats to rent in Hammersmith or another part of London may have taken a similar view of the property market.
Indeed, in a recent article for the London Standard, property correspondent Mira Bar-Hillel said many people looking to buy a home in London may not be able to afford it on their salary.
Written by Ben Carter
Published 22nd October, 2009
© 2009 Estates IT Limited
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One writer is selling his home in order to rent, he has revealed.