UK Estate Agent Recommends House Rent Rather Than House Purchase

Prime Purchase, an estate agency specialising in London and country property market, recommends its clients – potential house buyers – to rent, while waiting for the right property at the right price to buy. According to Prime Purchase, the British market of rental property has a wide choice of houses and apartments in prime areas; some of these properties, says Prime Purchase, would make perfect deals should their owners put them on sale rather than rent. Prime Purchase head of country, Mr. Jonathan Bramwell, claims that the UK property market and house prices in particular, are slowly creeping upwards because of low property supply, low mortgage interest rates, and improving overall market environment. The market is extremely fragile, however, and any significant change, such as increased mortgage rates, might result in a totally different outlook for house prices next year. This is the reason why the company urges its clients to rent rather than purchase the first available property. Renting out a property usually gives house buyers time and desire to watch the market: property values, supply, etc. Ms. Sarah Elphick, company’s agent specialising in properties located in Gloucestershire, Oxfordshire, Buckinghamshire, Warwickshire, Northamptonshire, North Wiltshire and Somerset, said that Prime Purchase expects a large number of properties to be listed for sale this autumn, yet they still will be not enough to meet consumers’ demand, meaning supply will remain limited. She added that the company understands that lack of supply is a problem for many buyers, who do not feel comfortable in a rented house, while Prime Purchase looks for the perfect house meeting buyer’s requirements. Ms. Elphick also added that the rental approach of Prime Purchase agents specialising in other areas, such as Southern & West Country Regions and East Anglia, is almost the same and varies slightly depending on clients’ requirements.