Rental market overtakes home ownership in London

[Nicholas Wallwork]

In what many may see as a very disturbing development, new data from the UK government’s English Housing Survey has confirmed a very worrying trend. For the first time in 10 years the number of households renting property in London is greater than the number of households living in mortgaged property. When you bear in

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It is no surprise to learn that the London rental market is now larger than the London mortgage market especially when you bear in mind the phenomenal growth in London property prices. When you also factor in meagre wage inflation in recent times this has made the affordability factor an even bigger problem for first-time buyers. Hence the move to the rental market which pushes property prices yet higher as buy to let investors require more capacity.