Rental demand 'steaming ahead'
Demand for property to rent in London and the rest of the UK remains healthy, yet another industry report has suggested.
The Association of Residential Lettings Agents (ARLA) has published a new study which found that more and more Brits are veering away from the owner occupier market.
It said that burgeoning minimum deposit levels and rising mortgage rates are convincing many would-be homeowners that now is a dangerous time to get on the property ladder.
The report is based on the responses of 444 Letting Agents and it revealed that vacant flats are being snapped up by tenants at an accelerated rate.
Some 39 per cent more Letting Agents now report that demand has outstripped supply in the past three months, with the average amount of time properties remain on the market falling to just 22 days.
Reflecting market satisfaction among buy-to-let investors, ARLA noted that three quarters of landlords currently have no plans to buy or sell properties in the near future.
Published 13th June, 2008
© 2008 Estates IT Limited
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Demand for property to rent in London and the rest of the UK remains healthy, yet another industry report has suggested.