Surge in demand for rented accommodation

A significant proportion of home-movers are shying away from the property ladder due to the current economic climate, it has been claimed.

Simon Preston, chairman of Iammoving.com, said that there was "a lot of nervousness" in the market and insisted the prospect of a downward house price correction meant many people are opting to rent rather than buy.

"Some of it is purely common sense," he asserted. "Essentially there's a lot of nervousness in the market at the moment and the actual turnover of home-movers is down substantially, probably close to 30 to 40 per cent."

Mr Preston said jitters were running so high that many people who are already homeowners are considering cashing in on the value of their home prior to the widely-expected downturn.

He said: "Some people are thinking it might be prudent to sell then rent and hold on to the cash … in case those prices go down further. [This is] not a dissimilar mentality to people selling their stocks and shares, putting in the cash and sitting on their hands waiting to see what happens."

Iammoving.com recently estimated that almost one in five homeowners is considering selling up and switching to the rental market.

Published 7th April, 2008

© 2008 Estates IT Limited

Latest London Property News Headlines

St John's Wood brings the village atmosphere to the capital

St John's Wood brings the village atmosphere to the capital

St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle. 

Read Article ... Published on 26th May, 2015

Yeading: Enjoy peaceful city living in an up-and-coming area

Yeading: Enjoy peaceful city living in an up-and-coming area

Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.

Read Article ... Published on 26th May, 2015

Hanwell: A green, peaceful environment for Londoners

Hanwell: A green, peaceful environment for Londoners

Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.

Read Article ... Published on 26th May, 2015

Mitcham Carnival announced for June

Mitcham Carnival announced for June

Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.

Read Article ... Published on 22nd May, 2015

Hammersmith and Fulham Council start Park consultation

Hammersmith and Fulham Council start Park consultation

Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.

Read Article ... Published on 22nd May, 2015

New conservation areas planned around Waltham Forest

New conservation areas planned around Waltham Forest

Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre. 

Read Article ... Published on 20th May, 2015

Sutton Council announces Take Part Take Pride summer festival

Sutton Council announces Take Part Take Pride summer festival

Sutton Council has announced its Take Part Take Pride summer festival.

Read Article ... Published on 20th May, 2015

Brent Council teams with Brent Housing Partnership in new project

Brent Council teams with Brent Housing Partnership in new project

Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.

Read Article ... Published on 19th May, 2015

Gardeners prepare for Islington In Bloom

Gardeners prepare for Islington In Bloom

Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.

Read Article ... Published on 15th May, 2015

New fitness centre set to open in Manor Park

New fitness centre set to open in Manor Park

A new fitness centre is expected to be opened in Manor Park by Newham Council. 

Read Article ... Published on 15th May, 2015

A significant proportion of home-movers are shying away from the property ladder due to the current economic climate, it has been claimed.

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

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 Letting Agent Software?