Rental prices in the London were increased rapidly at ahead of inflation because most of the purchasers are being enforced to look property to rent in London, rather than buying it, because they cannot move up the necessary wealth required to get onto the housing ladder. A rush in corporate and international business has also contributed to higher rents.
Research of Savills, head of Savills residential research reveals that rents of London properties, particularly in primary areas, have been rising continuously in last 18 months, due to ahead of inflation. Rents are increased at four percent higher rate, with authentic signs that they will continue rising, because of increasing demand.
Yolanda Barnes said that “A number of different factors are motivating the market today”. This increase of demand in international and corporate sectors increases huge values, but rental growth is bear out by strong demand .These factors create a vast competition and pressure on the real estate London market.
The properties for rent in several areas like; Balham, Brook Green, Clap ham, is significantly in outstripping demand. The North West parts of London have provided you the appropriate property in low cost. The properties for sale in NW6 area of London is surprisingly create the amazing impact on the investor to buy home or take it in rental on the North West part of London.
According to shelter survey, reveals that most of families are not investing in London property market. The difference between residence wage and expenditure of living is preventing them from cutback the share to purchase a home. The total household income, including tax, needs to be £52,000, to pay for the two bedroom rental flat. However, the reality is that most of the homebuyers take homes less than £35,000 in London. There are 70 per cent increase in private renting in the capital over the last two years, approaching rental costs due to demand. This increase in demand of private rental properties has helped blow up the price of rent in 2011 by 7 per cent, nearly double then the rate of rises of the London average remuneration.
Overall London has some of the highest costs of housing in North West part. North West6 London covers the Kilburn and West Hampstead area. These areas of NW6 are very rich in culture. The area belongs to the various communities of people. Residential colonies, complex are built in a pleasant condition.
The G15, housing associations in London are hopeful to relieve this load on families by providing around six in 10 of the new reasonable homes in London in excess of the next four years, which help to ease the demand on the confidential rental market.
A number of houses will be existing for mutual possession schemes, whereby 25 per cent to 75 per cent of the property is available to obtain at market value and a subsidize lease on the remaining share of the property until the property is bought complete.
London is the best city of UK to invest in the real estate market. Plaza estate (estate agency) conducts its survey on London Properties , revealed that the property prices in London are increasing up to 4.5 percent. The graph of property market in London is constantly rising by the number of interested buyers are investing their huge amount in London Properties .So we need to analyze why the rate of properties constantly increasing in London?
Though, the population is increasing rapidly in London, increases the demand of property. Several industries have setup their central offices here. The properties in central London is really very worthy for people who need to invest in the real estate market. Without analyzing the market position individuals are investing their huge sum of money by taking lots of risk. In central London, prices of luxuries home increased after the month of May, as British Government increases the tax on purchase of 2million pounds or more.
London, based broker said that the average cost of apartments and houses are 3.7 million pound climbed 10.7 percent from earlier year. The stamp duty prices are also increases from 5 percent to 7 percent in March. The new tax rate is the average price for the house in Regents Park, Kensington and Chelsea, the most beautiful area of London.
Olympic effect also increases the prices in the east London. The recent survey revealed that the Olympic stadium situated in the east part of London increases the demand of property in this area. The property prices have gone up to £192 a week since London was awarded the games in July. While taking look on properties for sale in sw7 we can find the properties in London sw7 area.