London has a unique demographic structure that challenges its housing market. More young single professionals live in central London than anywhere else in the UK. People come to London from all over the world to build a career or just to experience the unique buzz of the big city. This increases the demand for property to rent as well as unique housing solutions, such as one bedroom apartments, small family homes and shared flats to rent.
London is known to be very expensive for first time buyers. Average house prices in London are double the UK wide average, and many are forced to keep to rental housing for longer than they would wish for. However, when moving to London for the first time, it is a good idea to rent a house as it’ll let you explore your new home town.
If you are not familiar with London, searching for houses to rent might seem an intimidating prospect. The size of the city, and the many types of housing available, means that you will need to carry out extensive research. The key to success is to gather a good understanding of you options beforehand. Look for opinions about neighbourhoods over the internet, and if you can, go and visit different areas of London to get the feel of them.
If you know where you will be working, be sure to take this into consideration. Life in London becomes much easier when your home is close to work, as commuting across London can easily end up taking all your time and energy. Even if you like the neighbourhood, you will end up regretting your decision if life becomes much too complicated. Another thing to be close to is your social life. If you already have a social circle in London, consider moving where they are.
When you have narrowed your options down to a few preferred areas, have a look at the average renting prices. Rents might be very different even for areas close to eachother, and it might be a good idea to find out why. When viewing houses, you will be able to make much more informed decisions when you know what the rent of an average house should be in the area you’re looking to rent in. Any house in a bad shape and over the average price should be alarming.
London is a place that never stands still. Neither do its people. The greatest flow of people occurs when the students finish or start their school years. Early summer is an ideal time to look for a flat, as many students will be moving away from London at the end of their studies. In the early autumn, on the other hand, there are many flat hunters around fighting for the same spots.
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