Higher house prices 'may make flats to rent more appealing'
More people in the UK could be tempted to look at flats to rent in the London borough of Newham when they see the latest house price figures from the Land Registry.
The organisation has revealed the average home in England and Wales cost £167,423 in August - an increase of 0.3 per cent since July.
This was equal to an annual price rise of 6.7 per cent, with all areas of the two countries experiencing growing values.
flats to rent in Newham may be particularly attractive, as the capital saw the biggest annual price hikes of 11.4 per cent.
While the West Midlands saw the greatest monthly increase of 1.2 per cent, the north-east had the smallest rise of 1.6 per cent.
These costs could be discouraging some people from purchasing a home, as research conducted by YouGov for the Council of Mortgage Lenders found many people in the UK do not want to own a property until at least two years from now.
Posted by Ben Carter
Published 28th September, 2010
© 2010 Estates IT Limited
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