Renting has had an interesting history in the UK. Up until the late 1960s it was considered a normal option for people of all social classes, but after this time, due to a number of problems involving rogue landlords, it fell out of favour and was considered more downmarket and less desirable.
The total number of people renting across Britain has doubled in the last ten years or so up to almost five million. This is reflected in the pattern across London – nearly a third of all the properties in the capital are rented. Many people see renting as second best – as only a stopgap until they can afford to buy a property – but in London it could make more sense to stick with renting.
There are many parts of London where renting makes more financial sense than buying. Plenty of desirable areas are out of many price ranges when it comes to buying but offer a good range of reasonably priced options for renting. A prime example of this would be flats to rent in Canary Wharf. Well known as a financial hub employing thousands of workers, it is also a great place for shopping, eating out and bars, making ideal for those who love to socialise and shop with the money saved on rent.
Alongside these advantages, flats to rent in Canary Wharf are also great for access to amenities such as gyms and even parks. This makes the area ideal for those who like to squeeze in some exercise around their busy schedule, or who enjoy spending time in the outdoors.
People employed in the area would obviously prefer to live nearby rather than commute there, so renting might allow them to achieve this. And when it comes to flats to rent, Canary Wharf has wide selection of properties available.
Because renting is becoming more popular across London, there are an average of around ten tenants looking to rent every new property which comes on to the market. So you’ve got to be on the ball keeping track of what’s available. If you are looking for flats to rent, Canary Wharf options can be found on our site. Feel free to get in touch if you need more information.