Central London anyone having a hard time selling?

Fergie73

you can easily rent a 2 bedroom flat with a garden in Dulwich for £1,250, less than an interest-only mortgage on that flat.

I’m not in London, but I have a similar situation. I’m renting at the moment, and would like to buy, but the place I rent is great – about half the price a mortgage would be for a similar place in the area plus council tax, gas/electric etc are included in the rent. For what I could afford, I’d have to move to a vastly worse area and probably a vastly worse property too, plus taking on all the risks/responsibilities of ownership, using up all my savings and exposing myself to inflation in council tax, gas/electric etc. It simply doesn’t make sense.

I went to see an estate agent a few weeks ago, and I could see their faces fall when I told them where I was renting and for how much.

Buying should be cheaper than renting, because of the risks and other expenses involved – the main risk being that you’re unable to move when you want/need to but have to rely on finding a buyer. Right now, renting is much cheaper, and that doesn’t make sense for individuals looking for homes, or for landlords – therefore it’s unsustainable.

Trouble is, when you start to think of it like that, you quickly go off the idea of buying at the moment. :eek:

brit1234

Prices are falling fast here in West London according to Property Bee. Just sit down, eat popcorn and watch the crash.

For those without Property Bee here is the link below. Its been just this last couple of weeks that it has showed a massive increase in property with reductions of asking prices, which were rising according to Right Move last month.

http://www.property-bee.com/toolbar/download/

You will need to use the better Firefox rather than Internet Explorer for this pluggin.