More flats to rent in London due to buy-to-let market?
07-31-2010
People looking for flats to rent in London may be encouraged to hear that research has shown most landlords will still be renting out their properties for the next 12 months.
Property portfolio manager Young Group's latest Young Index, which surveys feelings among those in the private rented sector, found that 95 per cent of landlords are intending to continue letting.
Over a third of those intend to keep their houses or flats for twenty years or even longer.
They see an expensive future for London, with nearly 90 per cent expecting prices to remain stable or rise over the next few months.
The Land Registry states the average price of a house in the capital is already over £330,000, compared with under £200,000 throughout the rest of the country.
More than half of the people questioned by Young Group said they are holding onto the homes to be able to pay for retirement.
Posted by Ben Carter
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