Century21 Open New Office In St John's Wood, London

Century21 are pleased to announce our new franchised office is now open in St John's Wood around the iconic Abbey Road area. Gerard Bitton opens with a team of three recently recruited sales associates and has already made an impact in the local area taking on sales and rental properties. The office will offer a full range of estate agency and letting services including international property transactions and advice.

Elsewhere in the UK the Housing Market continues to attract positive stories about the cost of buying versus renting and the medium to long term analysis of house prices.

Buying is still better than renting Although the tide is slightly turning, according to new research, the cost of having a mortgage to buy a property in the UK is cheaper than renting in 84 per cent of towns and cities in the UK.

Zoopla revealed that the figure is down from 94 per cent three months ago, although it is cheaper to service a mortgage than to rent in 42 of Britain's top 50 towns and renting is now 16 per cent more expensive on average than owning across Britain.

In the capital, Londoners pay £6,687 more on average per year than home owners and overall renting in Britain is costing 16 per cent more on average than buying, up from 11 per cent this time last year.

The average monthly rent in Britain has come down slightly by £9 on average over the past three months to £1,470 per month in February 2012. Meanwhile asking prices have dropped by £6,500 on average over the same period to £255,037.

City house prices exceeding UK average City prices all over England and Scotland are on the up according to the Bank of Scotland. Truro (550 per cent), Westminster (522 per cent) and Edinburgh (509 per cent) are the three cities that have recorded the biggest price rises since 1986. House prices in UK cities have risen by an average of 382 per cent over the past quarter of a century from £35,209 in 1986 to £169,707 in 2011. This exceeds the increase of 347 per cent for the UK as a whole over the period.

Both Edinburgh and Inverness (450 per cent) feature amongst the 10 best performing UK cities since 1986. The research also shows that the majority of UK cities outperformed their region in terms of house price growth between 1986 and 2011.

If you would like to find out more about franchise opportunites and starting your own estate agency and lettings business with Century21 in the UK please click here.