Londoners urged to rent before buying

09 2008
It makes sense for many people in London to rent before they think about buying.

With house prices in the capital having grown massively in the last decade or so, it is almost impossible for young buyers to get onto the property ladder.

However, that does not mean they cannot live in the city and renting is extremely popular among young people who want to live in the city but cannot afford to buy.

One of the downsides to the popularity of London is that rents are slightly higher than elsewhere.

However, this is a small price to pay for living in one of the most exciting cities in the world without tying yourself down to a mortgage.

"Central London has seen such amazing growth over the last decade, since 1992 even, but I think that renting is not a bad option for people who want to live there and give themselves a bit of time [before buying a house] in the process," commented Nicholas Leeming, director of Property Finder.

"I think inevitably that high rental prices are the only thing you will find in central London because there is a very limited supply and a very strong demand [for rental property]," he continued.ADNFCR-1219-ID-18587716-ADNFCR

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