Students drive tenant demand surge |
15 2008 |
| Renting property remains so popular that landlords are having no trouble at all filling their properties, it has been revealed. According to Paragon Mortgages, 42 per cent of landlords' properties are empty for only two weeks before they are snapped up by tenants. This is an increase on 2006, when the figure was 37 per cent, and suggests that renting property is now more popular than ever. According to John Heron, director of mortgages at Paragon, there are a number of reasons for this heightening interest. "We expect void periods to continue to fall this year as tenant demand continues to grow," he commented. "As well as continued demand from rising numbers of students and immigrants, potential home buyers are delaying purchasing decisions and choosing to rent instead." A further 37 per cent of landlords said their average void period was between two and four weeks.  |
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