Renting still the best option in London, reports show

09 2008
The majority of young professionals moving to London will have to rent, rather than buy, a property for the foreseeable future, new housing market statistics suggest.

According to the latest research into property in the capital carried out by the Centre for Economics and Business Research (CEBR) just the borough of Southwark followed the national trend and saw a reversal in prices last month

However, even here, prices only fell by 0.2 per cent and so remain out of the reach of the majority.

Backing up these suggestions, this month's Chesterton Poll of Polls paints a similar picture, with the company's chief executive Robert Bartlett explaining that the situation facing prospective buyers is unlikely to change any time soon.

"We are not expecting dramatic changes in house prices whilst transaction volumes remain so low," he said, though he added that "much like our British summer, glimmers of sunshine can be see".

The comments come as landlords' groups report soaring demand for rental properties as people keep moving to London and look for somewhere affordable to live. ADNFCR-1219-ID-18676729-ADNFCR

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