Flats to rent 'may be appealing as house price growth halts'
One expert claims sustainable house price growth is still a long way off for people in the UK, which may encourage them to look at flats to rent in the London borough of Newham.
Hugh Best, head of investment management at London Central Portfolio, said there are key factors affecting the property market.
Similarly, growth has slowed in the capital and this is unlikely to turn around in the "imminent future".
He said the current situation is a response to the "rapid recovery in prices following the credit crunch and will represent a temporary stay until the market returns to its long-term growth trends".
Until flexibility of lending and economic recovery are achieved, it is "unlikely" this situation will be resolved, the expert continued.
Mr Best also pointed out that the government has revised down its economic growth forecasts, while banks are holding on to lower loan-to-value ratios.
His comments come after Rightmove revealed house prices fell by 1.1 per cent in September.
Posted by Martyn Glynn
Published 20th September, 2010
© 2010 Estates IT Limited
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