Rental market 'offers more'
It makes more sense to look for a property to rent in Barnet than hurry to buy one, an expert has stated.
Mark Dampier wrote in an article for Hargreaves Lansdown that there is "no rush to buy" and said that tenants, such as those seeking property to rent in Islington, can get more from the rental sector.
He explained that the heavy reliance on parental assistance by buyers proves that the market is overvalued.
"Don't be suckered in to the housing market just yet. Be patient, time is on your side," he said.
Mr Dampier also pointed out that while tracker mortgage holders have been enjoying lower repayments lately, this will not last unless they are on lifetime deals and added that mortgage rates are going up.
On the other hand, rents are falling as more owners let out their properties.
Regulated and authorised by the Financial Services Authority, Hargreaves Lansdown is a financial service provider and specialist for asset management.
It is an independent organisation.
Written by Charles Mackay
Published 24th August, 2009
© 2009 Estates IT Limited
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People looking for property to rent in Barnet need not rush to buy, according to an expert.