1
May
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.
