Housing shortage 'to send London prices soaring'
People considering looking for property to rent in London may be interested by new research to be released this week that will warn of "acute" housing shortages across the city.
The Guardian reports that market consultant Drivers Jonas Deloitte's latest London residential survey will reveal how a leaner supply of homes available to first-time buyers will result in house prices soaring over the next two years.
Its finding indicated that just 1,100 new properties are being constructed in the capital at the moment.
"The provision of family housing is a real issue for London and this research shows the seriousness of the problem," says Anthony Duggan, director and head of research at Drivers Jonas Deloitte - which came together as a result of a merger between Drivers Jonas and Deloitte in January.
Research pointing to a potential shortage of houses being built for first-time buyers may encourage more people to consider looking for property to rent in the London borough of Islington or elsewhere in the capital.
By Chris Price
Published 1st June, 2010
© 2010 Estates IT Limited
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More people may be encouraged to look for property in the London borough of Islington or elsewhere in the capital after new research pointed to an acute shortage of new houses being built in the city.