Countrywide urges new London Mayor to place housing high upon their agenda

He said:

“Having travelled across three continents in the last fortnight, it is clear to me that London is the property capital of the world as a result of a thriving London property market, stable Government and currency, and a continued commitment to the development of London's infrastructure.

“We have seen an increasingly high demand from foreign investors for mid to high-end London properties and we hope that the new mayor will continue to attract inward investment to the capital.

“However, considering the wider London market, we recently carried out a Homemover survey with YouGov and found that only half of London residents are currently happy where they live, with 27% of London respondents citing deposit affordability as their main reason for not purchasing a property. Also, one in five claimed mortgage affordability was a barrier, compared to a national average of 21% and 16% respectively.

“We urge the new mayor to recognise the importance of each sector in the London market and place the issue of the shortage of affordable housing in the city high on their agenda.”

Results

Question: Please state your reasons for not buying a property:

- I'm happy where I live at the moment:

London Respondents: 53%
National average: 62%

- I'm unable to afford a deposit:

London Respondents: 27%
National average: 21%

- I'm unable to afford a monthly repayment:

London Respondents: 20%
National average: 16%

- Job insecurity:

London Respondents: 15%
National average: 12%

- I think house prices will fall in the future:

London Respondents: 8%
National average: 5%