Rental demand up by half |
22 2008 |
| According to the Daily Telegraph, demand for rented properties has skyrocketed in the last couple of months, with figures showing that the number of people renting accommodation rose again in September. The new levels of renting have seen demand increase by almost 50 per cent year on year, according to figures from Your Move. The increased demand comes as Brits continue to struggle to find cost effective mortgages, with Hometrack estimating that there are around 1.6 million 20 to 39-year-olds renting for this reason. "As banks stopper the bottle of mortgage finance, potential buyers have to stay in rented homes for longer than they have in the past," Your Move managing director David Newnes told the Daily Telegraph. "The lettings market is thriving across the UK – we are seeing the strongest tenant demand we've ever had, far beyond normal seasonal fluctuations. "Mortgage finance is still expensive – as a result, people are choosing to rent." The housing market is set to be dangerous territory for home buyers, with some experts suggesting it may not bottom out until 2013. Until then, renting seems like a much safer option for many.  |
Related Articles |
| Bank could further reduce rates |
| The Bank of England could reduce base rates yet again this week, perhaps... |
| House prices reliant on banks' confidence |
| With many analysts making predictions for the housing market in 2009 there... |
| Isle of Man bucking house price falls |
| The Isle of Man saw house prices rise four per cent throughout 2008, one... |
| Lib Dem Cable talks of record house price slump |
| Liberal Democrat treasury spokesman Vince Cable has attributed a mix of... |
| House prices past halfway point |
| House prices have passed the halfway mark in their fall from their 2007... |
Copyright © 1995-2008 loot.com. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the loot