1
Sep
London property hunters could look for nearby housing alternatives
Research to come out of Housing Market Analysis by Oxford economic
has revealed that the price of homes for a first-time buyer in
London will reach £344,000 by 2015.
The news could mean that those in the capital for work could look
at
property to rent in London as an alternative. They may also be
interested in acquiring property in nearby areas and could choose
look at
property for sale in Oxford.
The report said the supply of new mortgage lending remained
depressed, despite an apparent easing in interest rate spreads, as
lenders continue to require higher deposits as a safeguard against
price drops.
David Orr, chief executive of the National Housing Federation,
said: “For the millions locked out of the property market the
options are becoming increasingly limited as demand sends rents
rising sharply and social homes waiting lists remain at record
levels.”
The only region on the country to have a higher price rise than
London was Sheffield which grew by 10.6 per cent in the first six
months of this year.
