UK landlords confident of high tenant demand in 2008 |
08 2008 |
| Private landlords are confident that the rental sector will continue to be strong over the coming year, a new report has concluded. According to research carried out by the Association of Residential Letting Agents (Arla), just one in ten of its members are now thinking of selling their properties, despite recent reports of a declining housing market. In addition, around 40 per cent of landlords are considering expanding their property portfolios in 2008 as demand remains high due to booming student numbers and the growing number of professionals choosing to rent rather than take the risk of buying a property. "This is good news for the whole of the private rented sector and for the housing market, particularly as it comes from surveys carried out well after the credit crunch had begun to bite," said Ian Porter, head of operations at Arla. Just recently the Bank of England announced that mortgage approvals have now hit a three-year low, with many people choosing to rent after being priced out of the market.  |
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