House price predictions 'difficult'
While people looking to buy their first home may have been pleased to hear the news that house prices fell in the UK last month, one sector commentator has warned it is difficult to predict whether this will be a continuing trend.
Paul Collins, property editor of BuyAssocation.co.uk, said in some cases sellers may be continuing to be overly optimistic with their asking prices - which could put property out of the range of affordability for many buyers.
"Finance is the key for first-time buyers. Many may hang on until the back end of the year - not just for saving for a deposit, but also to see what mortgages do towards the end of the year," he explained.
As a result, many Britons are likely to find they still need a sizable deposit in order to successfully take their first steps on the property ladder.
With this in mind, consumers may wish to consider flats to rent in the London borough of Hackney such as Shoreditch or another part of the city while they save up some money with which to secure a mortgage.
The recent Halifax House Price Index revealed property prices fell by 1.5 per cent in February, however, the Land Registry stated that during the previous month prices rose in London, which may make renting a more affordable option.
Written by Chris Price
Published 8th March, 2010
© 2010 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
It is difficult to predict whether UK house prices will continue to fall, it has been said - which may mean looking for property to rent in London is advisable.