Renting numbers soar as London prices remain high |
06 2007 |
| The high cost of property in the capital continues to push professionals into the rental sector, the London Housing Federation (LHF) has claimed. According to the organisation, London is now a city of 'two-halves' as the gap between those who are able to buy a property and those that aren't gets steadily wider. In addition, a significant proportion of professionals are choosing to rent accommodation as they feel house prices are currently at unrealistically high levels and could be due to fall. "House prices in London have reached new highs, leaving thousands of first-time buyers unable to get their foot on the ladder," concluded Olivier Powis from the LHF. In addition, growing numbers of people are turning to rental accommodation as it allows them to live in more desirable locations in the city, industry experts have revealed. Just recently the lobby group PricedOut.org.uk reported that the only affordable properties for many are in undesirable locations, meaning a lot of people opt to rent instead.  |
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