Landlords reporting rapid rise in rental property demand

10 2008
Demand for rental accommodation is set to remain strong in all parts of the country, a majority of landlords believe.

Research carried out by the mortgage company Paragon found that one third of all private landlords feel that tenant demand is currently rising at a rapid rate.

In addition, some 58 per cent believe demand to be strong and stable, in comparison to just seven per cent who feel it is falling.

John Heron, a director at the firm, explained that this is largely down to the fact that many potential first-time buyers are struggling to secure mortgages.

"Our landlords are optimistic about the level of demand from tenants. Young people are choosing to remain in rented accommodation for longer due to the uncertain housing market outlook," stated.

"The shortfall of available rental properties is particularly felt in London and the south-east because they're hotspots for young professionals. Increasingly this demographic either can't afford, or don't have the confidence, to commit to home purchase."

At the same time fellow mortgage company Rettie & Co reported that landlords in Scotland are also experiencing strong tenant demand. ADNFCR-1219-ID-18546121-ADNFCR

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