Will flats in London flourish as finance for home buying remains difficult?
property to rent in London may become a more viable option as the chief economist for the Royal Institution of Chartered Surveyors indicated that finance for those looking to purchase would continue to be in short supply for the foreseeable future.
Simon Rubinsohn referred to the Bank of England's Credit Conditions Survey for the second quarter of 2010 which suggested that demand for secured lending for house purchasing over the past three months has fallen.
He said while the report hinted that the supply of available credit had increased over that period, the indicator had barely moved after the "sharp falls" of 2008 and 2009.
In addition to his lukewarm forecast for the housing sector, Mr Rubinsohn said that the construction industry "with its need for development finance will be particularly badly affected by this".
With this prediction of continued finance problems facing home buyers, perhaps more people will be attracted to the idea of looking for property to rent in the London borough of Lewisham or elsewhere in the UK.
By Charles Mackay
Published 5th July, 2010
© 2010 Estates IT Limited
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More people may be encouraged to look for property to rent in the London borough of Lewisham or elsewhere in the country after a housing expert suggested that the construction sector would be badly hit by a lack of available finance.