Falling house prices and increasing rental demand has made it cheaper to buy than rent in 45 of the 50 largest towns across Britain. The cost of renting is now 13 per cent higher on average than the cost of owning, according to the latest research from property website Zoopla.co.uk. Milton Keynes topped the list of locations where buying beats renting, with current rents more than 39 per cent higher than the cost of owning.
THE HERON ALMOST SOLD OUT
Heron International has sold 200 of the 285 apartments in The Heron, their luxury residential development in the Barbican, off-plan. The remaining 30 per cent of the apartments include a selection of two and three-bedroom apartments located between the 31st and 34th floors of the building. These homes will be the highest, largest apartments with the best views. For further information visit www.theheron.co.uk
LONDON PROPERTY GETS CHINESE BOOST
The new website www.luckywu.com has been launched for property sellers hoping to tap into the growing number of Chinese investors looking to buy a home in London. The British-owned Chinese language website is the world’s first website for estate agents and developers to sell homes directly to Chinese buyers. Analysts suggest that Chinese investors will outrank American buyers in the capital within five years.
NEW DEVELOPMENT IN CANNING TOWN
A new development called Vermilion has launched in Canning Town. It is set to be completed next summer. It will provide 271 high-specification apartments as well as a new market square, shops, community facilities and eco-garden for residents. Prices start at £180,000. The property is to be sold through Hamptons International. Contact: 020 7758 8481 or go to www.vermilionlondon.co.uk