1 May

Buy-to-let property in London 'good option' for renters

Buy-to-let property in London 'good option' for renters

Renting a buy-to-let property could be a cost-effective option for those looking for somewhere to live in London, according to residential property agents Ludlowthompson.

Stephen Ludlow, director of the company, noted that many of the new plan properties bought by but-to-let investors offer both brand-new two-bedroom two-bathroom living and low prices.

"They (tenants) are benefiting from the fact that quite often those blocks have got nothing but buy-to-let property in them and the only way to get them let out is with a price reduction," he said.

According to Primelocation.com's House Price Index, London property prices rose by 3.1 per cent in February, taking the average price of a home in the capital to record levels.

In addition, the volume of prime London property for sale was down by 6.8 per cent in the same month, although estate agents were still handling 55 per cent more properties than at the same time last year.

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