Developers putting new homes up for rent, not sale

24 2008
The ongoing troubles in the UK property market is prompting growing numbers of Britons to turn to rental property, including those looking to live in the most desirable areas of major cities.

This, in turn, has led to many developers putting their properties on the market for rental use rather than for sale, with ECF the latest to announce that it is taking action to take advantage of the booming demand for high-quality accommodation among professional tenants.

Under its latest development, the company is offering ten of its 50 apartments in the heat of Liverpool up for rent, with the units to be aimed at the rising number of professional tenants in the city.

The company's head of sales and marketing, Catie Evans, commented: "We recognise that buyers are facing hurdles obtaining mortgages because of the credit crunch.

"We believe in the quality of St Paul's Square and want people to enjoy this marvellous location and everything Liverpool has to offer, so the rentals make sense to us."

The development in Liverpool mirrors the situation in nearby Manchester, where thousands of rental properties are becoming available in the heart of the city in order to meet soaring tenant demand. ADNFCR-1219-ID-18700456-ADNFCR

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