Flats to rent in London 'are down in price'
flats to rent in London have been among the properties to see the biggest drops in price over recent months, research reveals.
Sainsbury's Finance reports that the capital's residential rental property as a whole has fallen by £37.36 billion over the past year.
This takes the combined value of the 588,515 houses and flats to rent in London to £142 billion at present.
Landlord insurance manager Lucy Hunter explains that downward pressures have included an influx of home-movers looking to rent out their old property in order to put off selling it in the down market.
As a result, she says, rents have come down because "the market is now saturated with new rental properties".
Hands-on tenants could welcome the fact that their rents have fallen, as costs such as maintaining a home have increased over the past two years.
Repairs, alterations and improvements are all up in cost by almost three per cent during that time, previous figures from Sainsbury's Finance showed.
Written by Andy Britten.
Published 21st July, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
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
Tenants in flats to rent in London could find their rent lower with more property available to choose from.