'High demand' for flats to rent in London
There could be a high demand for flats to rent in London, meaning people looking to take up a tenancy may wish to put a deposit down as soon as they find one.
Jeremy Leaf, spokesman for the Royal Institute of Chartered Surveyors, noted the lettings sector has continued to strengthen over the past nine months.
"Many have turned to the rental market because they fear further price reductions in the housing market, or because they cannot obtain the necessary finance to buy," he stated.
Mr Leaf's comments come after the RICS Residential Lettings Survey found demand for properties to rent is currently outstripping supply.
As a result of a large number of people seeking a place to let, landlords are finding tenants for their properties very quickly, with very few experiencing voids.
Earlier this week, director of Mouseprice Selwyn Lim stated there is no longer a large amount of Britons competing against each other in the property market because individuals are not in a position where they can finance a purchase.
By Martyn Glynn
Published 1st December, 2010
© 2010 Estates IT Limited
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