Suburban demand pushing rent up |
06 2008 |
| As growing numbers of professionals choose to sit out of the property market, rental prices in the suburbs are going up, it has been reported. According to new figures coming out of the London property market, prices outside of the centre have gone up by as much as a fifth over the past year alone, as many people look to work in the city and then take a step back and enjoy a quieter life at the weekends. Indeed, estate agents have revealed to the London Daily News that a four-bedroom home in Southgate is now being let for £1,700 a month in comparison to £1,300 in 2007, while similar increases have been observed in East Finchley, Morden and Oakwood. One estate agent told the publication that rents are "going up given the shift from buying to letting and we are seeing rents reflect this". However, this comes soon after the Financial Times reported "deep cuts in London rentals", indicating that tenants would be well advised to shop around for the best rental deal in the capital before making any commitment.  |
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