Property prices 'still remain high'
The price of houses in the capital could encourage some people to consider property to rent in London instead.
Selwyn Lim, director of UK property market information site Mouseprice, said figures from Chesterton Humberts that show properties in Kensington and Chelsea have fallen in value by 27 per cent during the past 12 months may not be accurate.
He explained that this figure would be a "huge fall" and suggested it could be based on a small sample of transactions which do not reflect the market as a whole.
Mr Lim said: "Because there are so few transactions going on, most [surveys] that rely on some samples of transactions really would struggle to get enough data to make any statistically significant conclusions."
Mortgages.co.uk suggests that there are several advantages to renting, rather than making a property purchase.
The financial costs of taking on a mortgage - particularly in times of economic uncertainty - can be prohibitive for some first-time buyers.
Renting, on the other hand, allows for lower initial start-up costs and allows people greater flexibility when it comes to relocation.
Written by Chris Price
Published 30th July, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
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
Renting may be a better option for people considering a move in London, as reports of property price falls may not reflect the true market.