London rents offer 'good value'

It has been suggested that people looking to rent property in London can snap up good deals in the buy-to-let sector.

Stephen Ludlow, director of the residential property agent Ludlowthompson, said that buy-to-let properties in the capital offer good value for money when compared with other options.

He explained that tenants could expect to get good deals because "from their perspective they are moving into a brand new two bedroom, two bathroom flat".

Mr Ludlow went on to say that the ready supply of high-density new builds also means that there are plenty of bargains waiting to be snapped up by savvy prospective tenants.

"Quite often those [apartment] blocks have got nothing but buy-to-let property in them and the only way to get them let out is with a price reduction," the Ludlowthompson director explained.

According to the latest Halifax house price index, house prices fell by 2.5 per cent in March as more and more people abandoned the owner occupier market.

News posted on 2nd May, 2008