Could lack of job security mean flats to rent become popular?
flats to rent in London could appeal to people in the UK amid concerns about job security and the state of the housing sector.
Brian Berry, director of external affairs at the Federation of Master Builders, explained that it could take longer than anticipated for the property market to recover from the downturn.
As a result, small building firms may be affected as much of their work is carried out in the domestic sector.
He also commented on the Construction Skills Network's prediction that government funding cuts could result in a loss of up to 68,000 jobs in the construction industry.
Similarly, Mr Berry explained many homeowners might be less inclined to spend money carrying out work on their own property.
He said there is "a danger that we are going to repeat what happened in the early 1990s when we lost over half a million people from the construction industry".
If this results in fewer properties, more people could be encouraged to consider flats to rent in London as an alternative to buying.
Written by Andy Britten
Published 2nd August, 2010
© 2010 Estates IT Limited
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