Could low housing transactions increase appeal of flats to rent?
flats to rent could become more appealing when people learn house buying activity remains low in the UK.
This is according to Jacqui Daly, director of research at Savills, who said she does not expect to see "transaction activity picking up substantially".
She explained this is due to limitations in the mortgage market, which are affecting sales, even though there are unlikely to be large price declines in the property market.
"The economy is slowing and we expect the housing market to slow down again in the second half of this year," Ms Daly said.
She emphasised that although the length of time it would take someone to sell a property is unclear, figures from June and July indicate it is a slower market.
Her comments come after Santander revealed 1.1 million people in the UK have tried and failed to sell their home since June 2009.
In comparison, there were 725,000 successful property transactions.
Posted by Martyn Glynn
Published 25th August, 2010
© 2010 Estates IT Limited
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