House prices rise almost ten per cent in a year
More people might think about looking for property to rent in London as figures from Acadmetrics showed an 18 per cent drop in the number of homes sold during May.
However, despite a decrease of 0.2 per cent in house prices last month, it was revealed the cost of buying an abode rose by almost ten per cent over the last month.
Dr Peter Williams, chairman of Acadmetrics, said that market is "delicately poised" and could easily prosper or suffer depending on small changes in circumstances.
Furthermore, he suggested that there could yet be a decline facing property sales over the coming months.
This follows data from the Land Registry, Halifax and Nationwide in recent weeks that showed a significant annual rise in the cost of purchasing a place.
Figures revealing that fewer houses are being sold and prices have risen over the past year may encourage more people to consider looking for property to rent in the London borough of Richmond-upon-Thames or elsewhere in the country.
By Chris Price
Published 14th June, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
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More people may be encouraged to look for property to rent in the London borough of Richmond-upon-Thames or elsewhere in the country after new figures revealed that house prices have increased by almost ten per cent over the past year.