Rising rents may prompt self build

Buy-to-let property is seeing increasing demand due to falls in house sales, which in turn is pushing up rental prices, the BBC reports.

Landlord EuGin Song explained that the market has an "inversely cyclical" element which means that as house prices fall, rents rise.

He said: "Last year, I was charging £700 for a two-bedroom flat in West London. Now I get up to £800."

Those keen on getting on the housing ladder but unable to find a good mortgage deal due to the credit crunch may look to self build rather than pay ever-increasing rents.

Self builders will be able to decide exactly what they want their home to be like, a luxury denied to those seeking to rent.

Instead, prospective tenants are being rushed into making decisions quickly in order to ensure they secure accommodation before they are beaten to it by somebody coming along with a higher offer, aboutproperty.co.uk reports.


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