Could flats to rent be popular as housing market slows?
More people could be looking at flats to rent in the London borough of Waltham Forest, as the housing market has slowed in the UK.
According to the National Association of Estate Agents (NAEA), the number of people registering with an agent in an attempt to find a property was 250 in August.
This is compared to 292 in July, with the number of sales being made also declining.
The NAEA pointed out that fewer first-time buyers are taking the initial step on to the property ladder, as the number of sales made to this group fell from 26 per cent in July to 21 per cent in August.
Michael Jones, president of the organisation, said: "What we need now is for the lenders to increase mortgage availability, particularly to first-time buyers."
Statistics from the latest Halifax House Price Index revealed the average cost of a UK property last month was £167,953.
Posted by Andy Britten
Published 9th September, 2010
© 2010 Estates IT Limited
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