London families 'are being priced out of rental market'

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The high levels of demand for small rented property for young professional is driving families out of London, an industry expert has warned.

Alexander Rawlinson, a sales manager at Ludlowthompson explained that high demand for rented properties for young people meant that many landlords and investors were opting to convert large family homes into several flats to maximise their yield.

"[Families] are being priced out of everything and so inevitably are having to move out of London," Mr Rawlinson explained.

However, he added that some London councils were now beginning to act to try to improve the situation and force landlords to offer properties that are more suitable for families.

Mr Rawlinson said: "Lambeth and Wandsworth [council say], if you are converting a big, say, five bedroom house into three flats, one of those flats has to be what's called a family unit, and that has to have three bedrooms, and some access to outside space.

"That is obviously targeting the family."

Recently, Rics suggested that more and more people in the UK will have to continue to rent for longer unless house prices come down significantly.

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