Will housebuilding worries mean flats in London become more in demand?
It could be that property to rent in London and around the UK is a more attractive proposition after one of the country's biggest home construction firms said it would be more cautious about buying land.
The Guardian reports that Persimmon is taking a tentative approach as a result of ongoing problems with the mortgage market along with government public sector spending cuts, despite a 26 per cent rise in sales during the first-half of 2009.
Its finance director Mike Killoran told the publication that the company is hoping the availability of home loans improves over the next year, however, recent figures from the Bank of England's Credit Conditions Survey indicated otherwise.
He said: "There are not a lot of good deals on the market. Landowners are also cautious."
This point may persuade more people to consider looking for property to rent in the London borough of Hammersmith and Fulham, as might the words of one former Labour minister, said before the party was voted out of office.
MP Jonathan Shaw implied that renting should be an aspiration equal to that of owning a home.
By Andy Britten
Published 7th July, 2010
© 2010 Estates IT Limited
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One UK housebuilder's cautious land-buying approach has been put down to ongoing mortgage problems and government spending cuts, which might encourage more people to rent in the London borough of Hammersmith and Fulham or around the UK.