Strong London house prices still driving high rental demand |
11 2008 |
| House prices in London performed strongly over January, contributing to the continued high demand for rental accommodation in the city. According to the latest official statistics published by Land Registry, of the capital's 33 boroughs, seven have recorded annual growth rates in excess of 20 per cent over recent years, while six more have seen growth of ten per cent or more. Despite a relative slowdown, the city's rate of house price inflation is still twice that of the second highest region, the south-east of England. In addition, the recently-published Financial Times' House Price Index revealed that the average national rate of house price inflation stands at 6.5 per cent, though in London this figure currently stands at 14.6 per cent. Several studies carried out over the last few months have shown that growing numbers of Britons are opting to stay in the rental sector rather than struggle to buy a property in such a climate of rising prices.  |
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