London is in the middle of a housing crisis. We know!
Houses aren’t being built at a quick enough rate and foreign investment is fuelling prices to an unsustainable level.
So, if renting a property seems more appealing or if you are simply not in a position to get a mortgage, what is going to happen to London’s rental market?
The lead up to the referendum certainly caused house prices to slow, and now experts predict that property prices will fall due to a stagnant market. However, they also predict that there will be fewer transactions overall and this could increase the demand for rental properties.
Worryingly, many influential figures in the market believe that less affordable homes will be built over the next 24 months, which means that ordinary Londoner’s will continue to be out-priced from both buying and renting.
Another concern is the impact Brexit has had on the British pound. As an article in The Londonist recently highlighted, ‘with the value of the pound hitting a 30-year low in the wake of the Leave vote, it means overseas buyers will get more for their money’, resulting in a huge increase in overseas investment.
If overseas buyers continue to purchase new-build homes in London, it leaves little room for first time buyers to have a remote chance of getting onto the market and simply pushes rental prices up as demand increases.
That is where we come in…it is our main goal to help first time buyers get onto the capital’s housing market.
We build stunning apartments in brilliant areas and all of our locations are within walking distance to transport links, encompassing a sense of community. In addition, we offer award-winning resident facilities which include business lounges, sky gardens and cinema rooms.
What’s more, one of our apartments could be yours for less than £200,000.
To find out more, please call the team on 020 8688 6552.