Market for flats to rent in London "remains buoyant"
The market for flats to rent in London remains positive and "buoyant" according to one organisation.
Figures from the Royal Institution of Chartered Surveyors (RICS) revealed 26 per cent of its members have seen an increase in the number of people looking to rent a dwelling.
This may encourage Brits considering home rental to move quickly, as increased tenant demand could lead to a shortage of properties.
According to RICS, enquiries about lettings have now increased at a higher than average pace for the second consecutive quarter.
However, James Scott-Lee, a spokesman for the organisation, said there is the chance of a "modest increase in supply" in the market over the next few months.
The results also showed only 4.1 per cent of landlords plan to sell their buy-to-let properties when their current tenancy agreements end.
Property rental might be an attractive idea as Helen Adams, managing director of FirstrungNow.com, recently said many mortgage lenders are "charging quite a bit" when people want to borrow money.
Posted by Andy Britten
Published 27th August, 2010
© 2010 Estates IT Limited
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