'Weaker demand' from buyers
People considering looking for property to rent in London may be interested to hear about new research indicating a slowdown in the housing market.
Data from Hometrack, a provider of residential property and housing information for more than a decade, revealed that buyer and seller activity rose by just 1.8 per cent during May compared with a jump of 5.5 per cent in April.
While sales volume increased by two per cent, this was significantly below the ten per cent enjoyed during the previous three months.
Furthermore, research indicated a small increase of 0.5 per cent in the number of first-time buyers registering with Estate Agents in the UK.
Richard Donnell, director of research at Hometrack, said: "Uncertainty generated by the election had a clear impact on housing market activity, with fewer buyers coming to the market."
News of slowdown in the housing market may encourage more people to consider looking for property to rent in the London borough of Bromley or elsewhere in the country.
By Ben Carter
Published 1st 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 Bromley or elsewhere in the country after new research indicated the housing market had slowed in terms of first-time buyer interest.