Owning property or land is something that many people all over the world dream of or aspire to, and this is simply because many of us see it as a means of establishing stability in one’s life. People will spend a good part of their working lives saving money for a deposit and paying off a mortgage, just so that they can achieve the dream of owning a piece of God’s green earth.
For most people achieving this goal is a somewhat attainable and lovely dream, but for the average resident of London the dream seems to be turning into a nightmare End of Tenancy Cleaning London as house prices continue to rise. Recently on the news it was reported that the average asking price for a London house has for the first time shot up and over £500,000 mark and this figure is double the asking price of houses in other cities within the UK.
Some might argue that owning a property in one of the expensive capitals in the world is always going to be difficult, but the point is that surely those who are established residents or born and bred Londoners, cannot be expected to look elsewhere when it comes to buying a home.
Home and Family
Families in most cultures live by a similar pattern, whereby an individual is raised by his/her parents, goes to school, gets a job, moves out, gets married, buys their own home, starts a family and so the cycle continues. Having a home and starting a family is the life purpose of most people and although it is possible to have this in rented accommodation, owning a home gives more stability and is therefore regarded as the ideal scenario. The rented accommodation situation does not offer families much stability and there are even reported cases of kids’ schooling and development being negatively affected by frequent moving. The average Londoner is faced with raising a family in rented accommodation, unable to save up enough money to buy their own home because the high rents they pay are lining the pockets of landlords and property investment companies.
Investment and private landlords
There are those who are fortunate enough to have either inherited property or can afford to buy homes without any difficulties and then there are some to whom property is simply an investment or a money making opportunity. On a website all about London, londonist.com, there was a recent article entitled “London Property Boom Fuelled By Foreign Millionaires”; the report states that only 45% of buyers in Central London are British nationals, the majority are foreign nationals (Russians, Middle Eastern). These investors are a welcome sight for the estate agents, but on the other hand the properties purchased by some investors can sometimes remain unoccupied for months on end because they are a holiday home or for business purposes. The average first-time buyer is therefore faced with competing against the financial powerhouses of company or individual investors and private landlords.
The constant flow of students and workers in and out of the capital means that short term tenancy is a common feature of the thriving private rental market, but this also means that competition for tenants, amongst landlords is very stiff. To successfully generate regular income from their properties landlords will often use end of tenancy cleaning companies to ensure that their properties are well-kept and immaculately clean, in order to attract tenants. Many long-term residents and families are at therefore destined to remain as renters, and at the mercy of private landlords, because it is difficult to get onto the property ladder without getting into debt.
The lack of new housing, the demand for affordable homes and competition from rich investors is likely to keep house prices high or rising, so owning a home will continue to be a dream for the average Londoner.
Leonard Woods has a growing interest in writing, which came about when he was asked to write a blog for LTN Cleaning, a company that offers professional cleaning services in London – visit [http://www.ltncleaning.co.uk] to find more about them. Leonard currently lives in North London and is football and basketball fan and a keen follower of Liverpool Football Club as well as the LA Lakers. When it comes to writing he’s current focus is on cleaning, health and the environment but watch this space for more!
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