Increase in graduates seeking flats to rent in London?
The number of graduates leaving education and finding it difficult to buy a property may have increased demand for flats to rent in London.
Chris Horne, editor at Property Hawk, said people finishing higher education used to be typical first-time buyers, but the level of debt they depart university with may be preventing them from securing their own home.
"With that debt, their ability to take on a mortgage, or lenders' willingness to lend them money for a mortgage, is in question in the short term," he added.
Mr Horne noted these individuals will turn to tenancies and will do this for a longer period of time, which means the high demand for places to rent may be set to continue.
Last month, statistics published by ludlowthompson.com found a quarter of all properties made available for let are subjected to sealed bids being made by potential tenants, due to the volume of people looking for rented accommodation.
By Charles Mackay
Published 9th November, 2010
© 2010 Estates IT Limited
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