Could more people seek flats to rent in London as 'consumer confidence dips'?
There could be greater tenant demand for flats to rent in London, as one expert has said people are less likely to purchase homes while they are concerned about the economy and jobs.
Martin Ellis, housing economist for Halifax, stated it was difficult to predict how the property market would perform in the future.
"Prospects for the housing market remain uncertain," he commented, explaining earnings are not expected to see any significant rises, tax hikes will soon be introduced and more individuals are trying to sell their homes.
"These will all be constraints on the market, dampening house prices," he added, with an increase in the supply of real estate likely to have a negative impact on the value of properties.
In September, the average home was worth £162,096, 3.6 per cent less than the previous month, the Halifax House Price Index reported.
This comes after a recent study by MGM Advantage showed London is the most expensive UK city for pensioners to reside in, which may encourage them to look for flats to rent in the area.
Posted by Ben Carter
Published 8th October, 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
Uncertainty over the economy and the labour market has encouraged people to be more wary about buying a home, one expert has said, which could see more people looking for flats to rent in London.