Widening gap in house market could lead people to find flats to rent in London
People finding it difficult to secure a footing on the property ladder may turn to flats to rent in London, following comments from one expert.
Lucian Cook, director of residential research at Savills, said he was not surprised that a recent study revealed there is a "widening gap" between those looking to buy a home and people who already have one.
"Even those who are on the first rung of the housing ladder and are looking to make the second rung will find it very difficult to do so in current conditions," he stated.
He added that the current market conditions are making it hard for many to accumulate enough cash through savings to put down a deposit on a property.
Earlier this week, Myvouchercodes.co.uk reported that more than half of young people who are still staying with their parents believe they will never own a home themselves.
Those who cannot afford an abode in London may decide to find flats to rent in the capital as an alternative.
Published 9th December, 2010
© 2010 Estates IT Limited
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People who are looking to get onto the property ladder may be finding it increasingly difficult to do so.