More rental property set to become available

09 2007
One quarter (23.4 per cent) of all landlords plan to expand their property portfolio over the next five years, according to a survey carried out by the National Landlords' Association (NLA).

The survey revealed that NLA members currently have an average of 9.4 properties in the lettings market, a number that is likely to rise in the future. An influx of rental properties on the market will likely see an increase in competition, which could serve subsequently to drive down rental prices.

David Salusbury, chairman of the NLA, said: "The fall-out from the so-called credit crunch has dominated public attention in recent weeks, but in times of financial uncertainty people continue to need a roof over their heads.

"As the population grows and the number of households in this country continues to expand, the private rented sector will play a key role in providing homes to a larger number of people who need either a temporary or longer term housing solution."

He went on to explain that the commitment with which landlords plan to invest further into the private rented sector over the next five years demonstrates that they remain confident about their businesses.

Less than 18 per cent of landlords said that they were considering reducing the size of their portfolios, while only 2.4 per cent said they planned to exit the sector completely.
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