'Enormous demand' for private rented sector
Over the last few years there has been an "enormous demand" for private rented homes in the UK, according to Stuart Law, chief executive of property investment adviser firm Assetz.
With an upturn in interest in this sector of the housing market, it is likely that property to rent in Islington and flats to rent in Lambeth, as well as homes in other parts of London, have been much sought after.
Mr Law said that any major swing towards a huge demand for buying property will not happen overnight. "It is going to gradually go back into buying as the financial markets improve," he explained.
The expert's comments come after the Royal Institution of Chartered Surveyors revealed this week that the net balance of its members reporting rental falls rather than rises reached 55 per cent in the second quarter of 2009.
This equated to an increase of seven per cent on the previous three-month period and could be interpreted as good news by tenants.
Written by Charles Mackay
Published 24th June, 2009
© 2009 Estates IT Limited
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Rental property has been in demand of late, accoring to an industry expert.