A bleak outlook for first-time buyers in London...
Amidst the reports of ever-increasing house prices, experts suggested that we might move toward the continental model of renting for a lifetime.
As a young professional living in London and finding it almost impossible to find anything within Zone 5 that I would like to live in (let alone buy), reports such as this do not paint a pretty picture.
The initiatives being formulated by the government for first-time buyers are great for some, but due to strict qualifications may well alienate many. The fear is that as landlords increase their rents, young professionals may well end up having to leave the confines of London altogether...and that might not be just because that's the only way to buy!
The rise in the cost of renting a home in England and Wales is matching or possibly exceeding house price growth by some measures, a survey suggests.”
