Property sales markets' frozen'

Property sales markets' frozen'property to rent in Hackney and flats to rent in Fulham could be a more attractive option for those looking for a residence in London, it would seem.

Nationwide Building Society chief economist Martin Gahbauer told delegates at the Chartered Institute of Housing Conference and Exhibition last week that the sales market appears to be "frozen" at present.

While, this side of the housing market stutters, there has been a "downward impact" on rents, he explained.

Mr Gahbauer said: "What a lot of sellers have done, instead of marketing their property for sale, is to let the property instead, which still allows them to move and generate a rental income."

This, he said, has moved supply from the sales market into the letting market.

Earlier this month, the Land Registry stated that the average property value in England and Wales in April was £152,898.

Properties in London increased in value by 1.4 per cent during the month to an average of £302,411 - down 14.3 per cent year-on-year, but still a difficult level for the average first-time buyer to afford.

Written by Chris Price

Published 22nd June, 2009

© 2009 Estates IT Limited

Latest London Property News Headlines

Arts and regeneration set to change the face of Croydon

Arts and regeneration set to change the face of Croydon

Croydon is a large, multicultural town located in the south of London. It is a thriving suburb with a prominent arts culture and strong community links.

Read Article ... Published on 21st August, 2014

Haringey Council launches new initiative to help troubled families

Haringey Council launches new initiative to help troubled families

Haringey Council has announced a new scheme designed to support low-income families, help them find employment and stay together.

Read Article ... Published on 20th August, 2014

Brits turning away from new property purchases

Brits turning away from new property purchases

Consumers are increasingly turning away from purchasing new property thanks to high prices and mortgage costs.

Read Article ... Published on 19th August, 2014

Hillingdon to see brand new sustainable school

Hillingdon to see brand new sustainable school

The London borough of Hillingdon is to see the creation of some much-needed school places thanks to the opening of a brand new facility in Hayes. Lake Farm Academy, located adjacent to Lake Farm Country Park, has turned heads due to its design, which is primarily based around sustainability.

Read Article ... Published on 14th August, 2014

Barnet residents encouraged to make something of disused buildings

Barnet residents encouraged to make something of disused buildings

Empty buildings that have fallen into disrepair and become dilapidated and ruined, tend to be a blight on the area in which they are located. Nobody likes the look of an empty house with broken windows, peeling paintwork and cracked brickwork. However, in one borough of London, the local authority has made plans to do something about this problem.

Read Article ... Published on 18th August, 2014

Properties set to become more affordable in Southwark

Properties set to become more affordable in Southwark

Southwark Council has launched a new drive to boost the affordability of homes in the borough.

Read Article ... Published on 18th August, 2014

Ealing to see new recycling service

Ealing to see new recycling service

Ealing Council announced yesterday (August 12th) that it has launched its new recycling scheme for residents. This innovative project means that people out and about in the borough don't have to send recyclable items to a landfill, as they can use the new bins that have been placed around the area.

Read Article ... Published on 13th August, 2014

Beckenham: A forgotten gem of south-east London

Beckenham: A forgotten gem of south-east London

Beckenham is a quaint and pretty little suburb located in the heart of Bromley, south-east London.

Read Article ... Published on 8th August, 2014

Over 175,000 London homes to be retrofitted

Over 175,000 London homes to be retrofitted

Affordable homes across London could see major improvements in the near future, as a major funding boost for the city's housing has been announced. Mayor of London Boris Johnson has secured around £145 million to help upgrade homes in several London boroughs.

Read Article ... Published on 12th August, 2014

New homes built in the Royal Borough of Greenwich

New homes built in the Royal Borough of Greenwich

A number of new homes are expected to be built for those over the age of 60 in Greenwich, it has been announced.

Read Article ... Published on 11th August, 2014

Many experts spoke at the recent Chartered Institute of Housing Conference and Exhibition.

Property sales markets' frozen'

Do you want a Short Let?

Do you want a Commercial Let?



Like this?
Share this
Follow Net-Lettings
Facebook Net-Lettings.co.uk Twitter Net-Lettings.co.uk RSS Feed
Follow Estates IT
Facebook Estates IT Twitter Estates IT RSS Feed

Estates IT offering Estate Agents Software. Lettings Agent Software, Rental Software, Property Management Software.
Net-Lettings.co.uk

Net-Lettings.co.uk was one of the first property and agent directory websites on the internet launched in 1996. We still believe in simplicity today. Use this London Lettings Directory for all your rental property needs whether a Tenant or Landlord.

Subscribe to RSS feed, or bookmark us so you do not miss any London News Articles we publish.

London Areas

London is a diverse community of people. There are many areas to choose from we have around 245 that appear on the map and approximately 338 total London areas. Here are just a few of the latest hot areas.

Letting Agents Docklands
Letting Agents Camden
Letting Agents Notting Hill
Letting Agents St John's Wood

Advertising & Sales

This site offers Letting Agents low cost effective advertising of their web site. We are not a Letting Agency but connect you directly Lettings Agents in your required area. Letting Agents see below options available with Net-Lettings. You can contact or follow us below.

Advertise on this site ...
Register with us ...
Need Estate Agent Software?

Nibbler report