Could flats to rent be more appealing as Nationwide reveals price rises?
Brits looking for a home may be tempted by flats to rent in the London borough of Croydon when they hear further reports of price increases in the UK.
According to Nationwide's latest housing index, the average cost of an abode was £166,757 in September.
This is compared with £166,507 in August, which represents an increase of 0.1 per cent.
It was also an annual rise of 3.1 per cent, according to the figures from Nationwide.
Martin Gahbauer, chief economist at the organisation, said it is unclear what will happen next in the property market.
He claimed it will depend on whether the flow of dwellings into the industry continues "and on the extent to which existing sellers are willing to compromise on their asking price in order to make a quicker sale".
This comes after figures from the Land Registry showed the average cost of an abode in England and Wales to be £167,423, which is an annual increase of 6.7 per cent.
Posted by Charles Mackay
Published 30th September, 2010
© 2010 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
New figures from Nationwide show there was an increase in the cost of properties in August.