Apartments in London cheaper to rent than to buy

Rents for residential property in London has soared in almost all parts of London, as a prior within a few years the rising cost of real estate has led to the fact that to rent a home in London is now cheaper than you can buy it.

Agency residential property Benham & Reeves Residential Lettings gives the results of his research, according to which to amend the scale of Stamp duty, the unstable job market has led to the fact that the majority of people began to choose rent. Demand for rental continues to grow, and the number of homeowners increased after the introduction of a 3% rate of Stamp duty is likely to be reduced. Thus, the trajectory of rental prices will continue its forward movement.

According to statistics 2015, districts of London , located in 1 and 2 traffic zones, saw the rent increase on average by 4%.

A small drop in rent has only been observed in two areas of London – in Richmond and in the district of Edvar road.

The strongest growth in rental prices in 2015 were in the area of Hackney. The districts of bow, Bethnal green, Haringey, showed double-digit price increases.

The British economy is slowly but surely emerging from the recession, and tenants move to a larger home area, the beneficiaries of the rental market and increase your income.

The new scale of Stamp duty has had a particularly strong influence on the real estate market in the UK, especially the London property market. Average property price in London has exceeded £500000. Accordingly, most people when buying a Gilles needs to pay more 10% Stamp duty. Simple calculations show that it is much cheaper to rent a house for many years than to pay such fees to the budget.

In connection with the introduction of an additional 3% of the total budget revenues, the government encourages homeowners not to worry and those who already brings the deal to completion, not to make hasty steps not to sell their property. The supply of new housing will decrease even further and the deficit will create increased demand and growth in rental rates, which will allow landlords to balance the additional costs.

® Maxim Savitsky. 14.01.2015,

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