Families 'don't want to rent in London'

Families are increasingly looking to rent properties outside of London in a bid to improve their quality of life.

Figures released by the Office for National Statistics (ONS) showed that a total of 243,700 London residents moved out of the capital in the 12 months to the end of June 2006.

The data showed that 28 out of London's 33 boroughs experienced a net loss in population over the period, as people looked for more comfortable accommodation elsewhere in the country.

Leading architect HTA supported the ONS' conclusion that families were opting to look somewhere else when they searched for a new home.

The firm's head, Stephen Newman, explained: "There is a definite concern that families are being pushed out of London and moving to places outside of London where they can commute in from.

"This is largely due to lack of amenity. London's got loads of parks but families want somewhere where kids can go and play."

However, Investment Property Databank recently revealed that inner-city developments offered excellent yields for landlords looking to expand their portfolio of property.