Will developers' funding problems boost renting in London?
People looking for property to rent in London may be interested to hear that the economic downturn has hit the construction industry in the capital hard and that some companies are still dealing with financial worries.
That is according to the 2010 Drivers Jonas Deloitte Residential Crane Survey, which suggested that money concerns have led to stalled projects in the city, even though its housing market has seen a turnaround in recent months.
While the report notes that London has enjoyed a boom in construction over the past ten years, stocks of residential dwellings for potential owners remain low.
Furthermore, despite this survey highlighting an acute shortage of homes, the May Land Registry figures show that the cost of an abode in the capital is around double the national average.
With this survey suggesting that housebuilding may suffer in the near future, perhaps more people will consider looking for property to rent in the London borough of Barking and Dagenham or elsewhere in the city.
By Andy Britten
Published 6th July, 2010
© 2010 Estates IT Limited
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More people may think about looking for property to rent in the London borough of Barking and Dagenham or elsewhere in the city after a new survey hinted at a continuing housing shortage for first-time buyers.