Three Top Reasons East London Houses are Getting Popular for Rent
Three Top Reasons East London Houses are Getting Popular for Rent
Rental demand is all time high at the moment in all over the UK in general and especially in East London. It is getting really difficult to find good East London Houses to rent.
There are many factors contributing to this and I am going to write few major reasons of this.
Upcoming Olympics Games
Under a year remaining until the start of 2012 Olympics. Huge number of work force came and still coming to work in the on going projects. People who are moving here to work from other parts of the UK or from abroad need some where to live.
Main Olympic stadium is based in the East London and most of the work force would like to live around the east London area to avoid commuting.
This is one of the main reasons which are contributing towards the high demand for rental properties in the area.
People Moving Out from Central London
Recent change to put a cap on maximum housing benefit payment is forcing people to move out from central London.
East London is one of the best places to go for those people, who are no longer to afford the difference between their rental payments and housing benefit they get.
There is another big group of people who works in east London but could not afford to live in the central London. For these people East London is one of the most popular places as well.
Few reasons why people generally prefer East London:
Rents are still affordable compare to central London
Approximately 20 Min to central London on the tube
Availability of the all the amenities
Lack of New Stock
Banks are not lending especially for property development, which is not helping at all to private property developers to build new properties.
Due to tight lending environment most people prefer to let at the moment compare to buying which is also contributing to make it difficult to find best east London houses to rent.
Do you have any more reasons to high rental demand in east London area? or which category do you come under visit our blog for more information and share your thoughts regarding east London houses to rent.