Tenant demand 'shows no sign of abating'

04 2008
Following on from a successful 2007, professional landlords are predicting an equally strong 2008 for the rental property market as tenant demand remains steady.

Coming soon after the latest Buy to Let index published by Paragon Mortgages showed that demand and rental yields have risen over the past 12 months while void periods for properties have fallen, property group Leaders has reported that the market is "buoyant" with good long-term prospects.

"Both rents and property values in our areas have risen over the past 12 months and there is no sign of the strong tenant demand abating," said Paul Weller, the company's managing director.

"In the current market, good quality properties are letting very quickly, and people are staying in rented accommodation longer, with the average tenancy lasting almost two years, regardless of the length of their initial agreement which is commonly for six months."

Alongside the growing numbers of young professionals renting flats or houses as they are unable to afford to get a foot onto the property ladder, Leaders also reported that just as many people are opting to rent due to the "convenience and flexibility" that the sector offers.
ADNFCR-1219-ID-18413751-ADNFCR

Related Articles
Rental investment remains strong in north-east
Investment in rental properties has remained sustained in the north-east...

Properties in the capital take 7.5% dive
Top properties in London are falling at record levels, it has been...

Pensioners could increase falls in property prices
Britain is currently home to 1.7 million pensioners who are relying on the...

BBA and Rics agree that housing market will not improve for months
The British Bankers Association (BBA) has suggested that house prices are...

House price declines 'slowing but not finished'
Recent slowdowns in the speed at which house prices are declining in value...