Date:Thursday 23rd December 2010
Author: Susanna Kavka
Landlords are likely to enjoy strong levels of demand for their accommodation in the new year, according to an expert from Property Hawk.
Chris Horne, editor at the website, suggested it is the “tightness” that is currently being seen in the mortgage market that will contribute most to this situation.
He explained that many people will find it hard to buy a property, so they will probably turn to rented homes.
“There is evidence that landlords are looking to increase the number of properties that they own, but that is only going to increase the rental stock very slowly,” added Mr Horne.
According to the Rent Index, there was a 0.266 per cent fall in the average cost of rent in November, which follows on from a downward trend that has been seen in the UK for the past three months.
However, there has been year-on-year growth of 1.912 per cent.