Survey may reveal benefits of finding property to rent in Brent
People may be keen to search for property to rent in the London borough of Brent following the findings of a new survey.
The Halifax First Time Buyer Review showed first time buyers in Brent and other parts of London were required to pay the largest deposits in 2010.
Such findings were based on Halifax's housing statistics database along with information from the Council of Mortgage Lenders, the Office for National Statistics and the Department for Communities and Local Government.
It revealed people purchasing in this area had to put down payments at 24 per cent of the property value - compared to just 17 per cent in the north of England.
Housing economist at Halifax Martin Ellis commented: "The noughties were a difficult period for many looking to get onto the property ladder."
It comes after the latest House Price Index from the Land Registry revealed Brent to be the borough in London with the highest annual price increase, with a movement of 16.7 per cent.
Published 29th December, 2010
© 2010 Estates IT Limited
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The findings of a new survey may encourage people to rent - rather than buy - property in Brent and other parts of London.