Will flats to rent in London be more popular if house prices rise?
House prices are likely to increase if interest rates remain low, according to one expert, which could mean more people are encouraged to look at flats to rent in London.
Savills director Lucian Cook said current conditions are not suitable for property price rises.
However, he suggested if interest rates remain low while mortgage availability is high, there could be some "pretty decent house price growth" in the UK.
Furthermore, this is likely to be more sustained than it was in 2009, which could mean more people want to put off buying a home and look at flats to rent instead.
Mr Cook made his comments after than Bank of England's Monetary Policy Committee today (August 5th) voted to keep interest rates in the UK at 0.5 per cent.
He added that if the next six months do see a decline in house prices, the drop will be limited because of high mortgage availability for those in the market.
Posted by Ben Carter
Published 6th August, 2010
© 2010 Estates IT Limited
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One expert believes house prices in the UK could rise if interest rates remain low for a sustained period of time.