Demand for rental property set to rebound in 2008 |
31 2007 |
| The final quarter of 2007 saw demand for rental accommodation across the UK dip slightly, though industry experts nevertheless expect the sector to remain strong in 2008. According to the year's final figures from the Royal Institute of Chartered Surveyors, 20 per cent more of its professional members witnessed a rise rather than a fall in tenants lettings over the three month period. However, this represented a slight fall from the 28.5 per cent figure reported in the third quarter of the year. In particular, demand for flats was notably lower over the period, though interest in larger houses remained relatively consistent. "A combination of the tightening lending criteria and successive interest rate rises has started to hit the buy-to-let market," explained Jeremy Leaf, Rics spokesman. "With rents still on the increase many would-be-buyers will find accessing the housing market even more difficult as they struggle to raise the capital for that first important purchase," he added.  |
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