People 'better renting in London'
Finding flats to rent in London is preferable to trying to buy a property in the capital at the moment, according to one high street bank.
Santander, which owns the former Abbey National and Alliance and Leicester, has suggested that although market conditions mean people in other parts of the country can confidently consider purchasing a house, Londoners may not have the same luxury.
The bank has indicated there is greater optimism for those buying outside the capital because the average monthly payment to landlords is just £86 per month more than mortgage costs, excluding rent in London.
However, within its boundaries, the difference between home loans and the value of letted abodes is £359 a month that homeowners are required to pay.
Recent data from the Land Registry showed that house prices in the UK's biggest city were around twice the national average, a statistic that might convince more people to look for flats to rent in the London borough of Redbridge or elsewhere in the capital.
By Andy Britten
Published 16th June, 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
A high street bank has suggested that people living in the capital should continue to look for flats to rent in the London borough of Redbridge or elsewhere in the city, as it represents better value for money than a home loan.