Could north-south property divide make flats to rent appealing?
Some people may be tempted to consider flats to rent in the London borough of Wandsworth following one expert's comments regarding the housing market.
Lucian Cook, director at Savills, explained there is often a north-south divide in the property market, which is most prominent in the early stages of the housing cycle.
He made this suggestion after the August House Price Index from the Land Registry revealed the average property in England and Wales costs £167,423 - a monthly increase of 0.3 per cent.
Mr Cook claimed the south is likely to experience faster economic recovery than the north, which will probably drive up prices.
Similarly, the level of equity in housing markets and the public sector spending cuts are also likely to affect prices, he continued.
"I suspect it will be those things which will see prices between the north and the south vary as we go forward from this point," Mr Cook concluded.
Posted by Chris Price
Published 29th September, 2010
© 2010 Estates IT Limited
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One expert has explained why there is a difference in property prices between the north and south of the country.