London 'a great place to invest in property'
30th Mar 2012
London is among the best places in the UK to invest in property, and represents an ideal location for landlords looking to expand their portfolio, it has been noted.
Chris Norris, policy manager at the National Landlords Association, said that anywhere in the south of England is generally a good bet to invest in property, as the market has traditionally been strong and demand high.
"London, particularly west London is incredibly strong. The south-east generally is always very strong. Generally speaking, the south-west is very strong area for rental growth. Most of the rest of the country have seen moderate increases over the last year," he explained.
His comments followed the publication of a report by LSL, which showed that the monthly average rent in England and Wales fell by 0.6 per cent between January and February to £707.
Mr Norris noted that it is probably "a little bit strong" to say that a 0.6 per cent month to month drop is that strong an indication that it is a trend in the market, however.
Earlier in the year, the rental market tends to be a little slower so it is likely that prices will stabilise or even remain broadly unchanged for the rest of the year, he added
"I think it would be far too soon to say that rents in London have plateaued because they still appear to have very strong demand and to be increasing still," the expert concluded.
© Zoopla Property Group Limited