Rental property booming in south-east |
27 2007 |
| The popularity of rental accommodation in the south-east of England has continued to rise over the past few months, new figures from the Association of Residential Lettings Agents (Arla) show. According to the latest report from the professional body, 37 per cent of letting agents across the UK have reported that they have insufficient rental properties to meet the growing demand. However, in Brighton and the south-east, this figure rises to 57 per cent and in London it is as high as two-thirds. In addition, landlords in the region are also reporting that tenants are choosing to stay in a property for longer, while the void period for flats and houses has also fallen in comparison to last year. Ian Potter, the head of operations at Arla, explained that the increased demand for rental property is largely driven by the growing numbers of young professionals being priced out of the housing market. "These latest figures confirm that the private rented sector will once again be the safety valve for a housing market worried by the current financial uncertainties and the softening of house prices," he said.  |
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