Competition for reasonably priced houses in London is pushing the renters to look out for smaller properties, as per the research conducted
The study by Cluttons showed, “One-bedroom houses are becoming increasingly popular as people cut out the notion of an extra room and look for ways to save money”.
This can be great news for the landlords having property in offshore of London, specifically those with smaller residential flats, houses and studios.
Lynn Hilton of the property consultants says: “The blend of a tricky mortgage market, general economic uncertainty and rising rents has put considerable stress on the lower end of the major London lettings market.
“earlier, one-bedroom homes were usually taken seen as short-term homes or pied-a-terres , but the market now has transformed so that couples and single professionals, who would have otherwise chosen a two-bed, now look at the spare room as an needless luxury.”
Ms Hilton saw that competition could be chiefly fierce among the young professionals who are locating to London to take up jobs, as most of them have significantly lower budgets for accommodation.
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