Market for rentals is 'hotting up'

Buying a property to rent in Fulham, or elsewhere in London, could be a great option for those looking to get on to the housing ladder.

This is according to a report in the Daily Mail that highlighted the fact that one in ten mortgage enquiries now comes from people looking for houses and flats to rent out.

One factor leading to the increase in interest has been the stabilisation of house prices, which, the news provider asserts, demonstrates that the UK is past the worst in terms of the recession.

However, it pointed out that property values are still relatively low, compared to this time in 2007, meaning people could potentially pick up a bargain.

Furthermore, increasing numbers of people are looking to rent property in the capital, since on average, there are seven applications for every rental house in London alone.

Commenting, Ed Phillips, lettings director at Foxtons, said: "The market for rentals is hotting up.

"It's the perfect climate to pick up a real bargain. Sales are only going to go up and demand for rental properties is huge."

According to the Association of Residential Letting Agents, the market is beginning to stabilise, with an increasing number of people choosing to rent a property.

Written by Ben Carter

Published 6th October, 2009

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