London, United Kingdom (19 September, 2011) – MeetMyAgent.co.uk, an independent estate agent review and rating website, comments on the London property market and the benefits of finding local estate agents to sell or rent your property.
The housing market has been in a state of uncertainty since the recent recession and, with mortgage approvals lower than ten years ago, many people across the UK are pessimistic about selling their property. For those who are able to, renting out to tenants has become a lucrative source of income as demand for rental properties has pushed up the cost of rent which, coupled with low interest rates on mortgages, has increased the potential profitability for landlords. However, the feasibility of renting out depends on a person’s circumstances, and trends in the housing market vary from region to region – which is why it pays to find the best estate agents in your local area for advice.
While it has been reported that the average UK house price in July 2011 was £168,731 (0.4% lower than in July 2010), London has witnessed an annual increase of 0.8%. The capital has always been a desirable place to live and work, but it appears that house prices in London may have increased due to the impending Olympic Games in East London, which has seen a reported average increase in asking prices of around £192 a week since the sporting event was awarded to the London area. This has been coupled with an influx of foreign investors buying up prime central London properties, which has pushed up prices in surrounding areas, and this intrinsic demand has kept prices relatively stable.
London is also ahead of the UK rental market, with renters paying some of the highest tenancy rates in the UK. Due to the recent recession and the tightening of lending criteria, tenants in London have witnessed an average 8% increase in rent, and average rental costs in the region are 0.25% higher than in the UK’s second highest priced region, Middlesex. With many would-be buyers forced onto the rental market, this upward trend in London seems set to continue. Therefore there is no better time for landlords to advertise their properties to prospective tenants through an estate agent than in today’s flourishing rental market in London.
MeetMyAgent.co.uk is committed to helping homeowners find the best estate agents in their area by reading independent reviews written by fellow homeowners about local estate agents. The site currently covers the London Borough of Hammersmith & Fulham, as well as Putney, and will be expanding into other London areas over the coming months. Users who have found estate agents through the site can leave a review regarding their chosen estate agent’s services on MeetMyAgent.co.uk’s website.
A spokesperson for MeetMyAgent.co.uk commented: “Here at MeetMyAgent.co.uk we understand that the recent recession has made many property owners question the stability of the housing market. However, it appears there is no better time for homeowners to sell or rent out their property in London, as the capital city has received a significant increase in rental and house prices since 2010. Our website can help our customers find the best estate agents in their area by reading independent reviews and ratings, helping them to receive the best return on their property investment.”
For more information on MeetMyAgent.co.uk and their local estate agents, visit their website at http://www.meetmyagent.co.uk.
About MeetMyAgent.co.uk:
MeetMyAgent.co.uk is a London-based company specialising in independent estate agent reviews and ratings to help property-owners find the best estate agents for house sales or lettings. MeetMyAgent.co.uk’s website is simple and easy to use; a user simply types in their postcode and then can read independent, objective reviews and ratings from previous clients who have used estate agents in their area.
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