NLA explains appeal of renting |
26 2008 |
| A leading figure at the National Landlords Association (NLA) has claimed that the recent surge in the rental market is not just down to the fall in property prices. Recent figures from the Association of Residential Letting Agents (ARLA) showed that the proportion of agents reporting tenant demand outstripping supply is at a record high of 39 per cent. In addition, mortgage experts Paragon have confirmed that annual rents have risen by almost 14 per cent over the past year to stand at £12,048 in April. Now John Socha, vice-chairman of the NLA, has explained that the shorter length of time the average person remains in a job is also contributing to the upturn. He told the Independent: "The job for life no longer exists so people move for work more. Selling and buying a house each time is hard work whereas renting provides fluidity. "More people are going to university and they come from nice middle-class homes and expect carpeting, central heating and broadband access. They see renting as normal."  |
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