Renting 'is good option for those wanting to live in London'
News Category: Industry News
Published: 08-May-2008
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For those prospective homebuyers currently unable to get themselves onto London's property ladder, renting represents a good alternative.
That is according to Nicholas Leeming, director of Propertyfinder.com, who said that private rented accommodation is "not a bad option" for people who cannot yet afford to buy a property.
He commented: "Central London has seen such amazing growth over the last decade, since 1992 even, but I think that renting is not a bad option for people who want to live there and give themselves a bit of time [before buying a house] in the process."
Mr Leeming went on to say that, due to high demand and limited supply, those looking to rent in the capital would find that they have to pay high rental prices.
He observed: "I think inevitably that high rental prices are the only thing you will find in central London."
Greater London property values rose by 1.6 per cent during the first quarter of 2008, according to Halifax's March 2008 house price index.
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