Rental market 'likely to be stable'

Rental market 'likely to be stable'Following a difficult year for the housing market, the buy-to-let sector is set to enjoy increasing stability in the new year, one sector commentator has claimed.

Chris Horne, editor at Property Hawk, said property prices are unlikely to go up over the short term, which may mean landlords have the opportunity to bag a bargain.

"I think it is going to be quite stable after the turbulence in 2009. I think interest rates will stay reasonably low for the rest of the time and tenant demand will remain fairly strong," he added.

Mr Horne asserted that professional landlords were likely to be looking for opportunities to expand their property portfolios.

Such news could see Britons looking for flats to rent in Kensington or another part of London having more properties to choose from.

Earlier this month, the daily updated Rent Index showed that the average monthly rent stands at £587.41 and has decreased by 0.45 per cent in the past month.

Written by Charles Mackay

Published 23rd December, 2009

© 2009 Estates IT Limited

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