Soaring tenant demand pushing rents up |
06 2008 |
| The importance of looking around for the best rental property deal has once again been highlighted with the publication of figures which show that average monthly rents across the UK have now topped £1,000. According to the latest research into the sector carried out by Paragon, the cost of renting a home has risen by four per cent since the start of 2008 and 12 per cent over the past six months. This is largely due to the growing number of people being attracted to the many advantages of rental accommodation, with 58 per cent of landlords questioned in the study saying that demand is currently strong and stable. These figures have been welcomed by private landlords, who are confident that rental accommodation will continue to be popular among both students and professionals for the foreseeable future. Nigel Terrington, chief executive at Paragon, added: 'There is still demand from new landlords to enter the market and opportunities remain for those investors, but professional landlords hold the majority of stock in the private rented sector and these larger scale investors account for the bulk of new transactions.  |
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