Buying Or Renting In London

Whether you want to buy or rent a property in south west London

, it is important to take note of some of the recent fluctuations in the housing market.

London is currently one of the most expensive cities to buy or rent property but the capital still draws people looking to buy or rent property because of factors such as the jobs and lifestyle on offer.

There may be many reasons why someone would prefer to rent in London instead of buying a building in the current economic climate and equally there are numerous motivations to commit to purchasing a property during these uncertain times.

Many people are choosing to rent at the moment because they are finding it difficult to find their dream home due to a dramatic drop in the number of new homes being built in recent years.

Another reason why renting is more popular with some people is that many are still waiting for better mortgage conditions to occur and are happy to bide their time until lending rates return to something approaching pre-recession levels.

Some analysts are starting to believe that the British attitude to property is becoming more European and that more people are happy to rent because ownership is becoming less of a priority.

Others would argue that Brits are still obsessed with the idea of owning property and this has been demonstrated by the slight return to strength of the buy-to-let market thanks to the strong demand for rental accommodation in London.

The 2012 Olympic Games has made London an attractive place for house buyers thanks to a significant investment in infrastructure resulting in an emerging number of 'property hotspots' to the east of the city.

Although the housing market is still turbulent, some forecasters have speculated that now is a good to buy a property in the capital in order to make a profit when selling it after the Games have left London.

Another timely reason to purchase a house is that some property experts are predicting house prices in the capital to experience significant growth during 2012 which would represent an excellent investment for anyone looking to buy now.

Whatever your property predicament, reputable south west London estate agents will be able to give you sound advice on what the best course of action is for your own unique requirements.

South west London is a desirable place to live and as such its housing market has been relatively unaffected by the economy when compared to other vulnerable areas.

by: Martin Hofschroer

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