Price growth set to drop for flats to rent in London in 2011?
The second half of 2011 may see the cost of flats to rent in London slow due to an increased amount of establishments being made available for tenants.
According to Andre Ellinas, director at property consultants Sandfords, who told propertytalkLive that the increasing availability of buy-to-let mortgages has seen landlords return to the market.
"[They are] attracted by the promise of robust rental yields and prospect for strong capital gains in leading parts of the capital," he stated.
However, Mr Ellinas warned that demand is currently outstripping supply, with there being a shortage of one-bedroom apartments, particularly in prime locations.
This may lead those currently looking for a flat to rent in London to act quickly in order to secure a dwelling.
Last week, a report by the Council of Mortgages Lenders revealed there was a 12 per cent increase in the number of buy-to-let mortgages being offered to property owners in the third quarter of the year.
By Chris Price
Published 16th November, 2010
© 2010 Estates IT Limited
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An increase in the availability of buy-to-let mortgages may lead to rental prices falling in the capital.