Buy to Let Yields
Jul 01,2010
British tenants are currently paying the highest rents in Western Europe, new research has revealed, which may interest buy to let insurance policyholders.
According to Easyroommate.co.uk, the average rental cost of a room in a British shared house stands at £348 a month, with France being the second most expensive, at £285.
James Davis, chief executive of online letting agent Upad.co.uk, said: "With house prices over the last 50 years rising at twice the late people's incomes are raising at, it means that there will continue to be a disparity between incomes and house prices."
He added that it is "getting more and more unaffordable" for first-time buyers to get onto the property ladder.
Mr Davis said that the UK housing market was "on the cusp of a revolution" and that Britain would soon follow the European example, where renting is typically more popular than buying a property.
The research also revealed that Milan is Europe's most expensive city, with its average monthly rent of £621 pushing London into second place.
www.investalist.co.uk
According to Easyroommate.co.uk, the average rental cost of a room in a British shared house stands at £348 a month, with France being the second most expensive, at £285.
James Davis, chief executive of online letting agent Upad.co.uk, said: "With house prices over the last 50 years rising at twice the late people's incomes are raising at, it means that there will continue to be a disparity between incomes and house prices."
He added that it is "getting more and more unaffordable" for first-time buyers to get onto the property ladder.
Mr Davis said that the UK housing market was "on the cusp of a revolution" and that Britain would soon follow the European example, where renting is typically more popular than buying a property.
The research also revealed that Milan is Europe's most expensive city, with its average monthly rent of £621 pushing London into second place.
www.investalist.co.uk