Buy-to-let properties offer good value for London tenants

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Buy-to-let properties offer good value for London tenants

Thu 1st May 2008

People looking to rent in London should consider a buy-to-let property, the director of residential property agents Ludlowthompson has suggested.

Stephen Ludlow noted that the majority of new plan properties bought by buy-to-let investors are brand new and offer two bedrooms and bathrooms.

In addition, many are offered at relatively 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.

London property prices rose by 3.1 per cent in February, taking the average price of a home in the capital to record levels, according to Primelocation.com's House Price Index.

The website also revealed that the volume of prime London property for sale was down by 6.8 per cent in the same month, despite the fact that estate agents were still handling 55 per cent more properties than at the same time last year.

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