Struggling sellers boosting rental property supply

31 2008
As homeowners struggle to sell their properties in a steadily-slowing market, many will opt to rent their place out instead, thereby giving tenants even more choice, it has been revealed.

Earlier this month a report from Your Move showed that the number of people living in rental properties across London has increased by 19 per cent over the past 12 months alone.

Now the editor of the website Landlordzone, Tom Entwistle, has explained that this trend is being caused by shifting market conditions, adding that, given that supply is going up hand in hand with demand, competition – and therefore higher rents – is likely to be limited.
"On the one hand, the demand is there because young people can't get into the market, but the supply has increased slightly because people are finding it difficult to sell and there are quite a lot of people now considering letting a property that probably wouldn't have even considered it before," he said.

"The demand for rentals is going to be maintained but I can't see it going through the roof and expanding too much." ADNFCR-1219-ID-18710227-ADNFCR

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