Demand for rented property continues

05/02/2009

A growing number of Britons are looking to the rental sector to fulfil their housing needs, according to new research.

Figures from Pentagon Mortgages show that a third of landlords are currently experiencing strong demand for property.

The firm's latest Private Rented Sector analysis found that 33.5 per cent of landlords have noticed a growth in demand as more Britons look for rented accommodation.

A further 45 per cent believe that the market is "stable" and 40 per cent expect tenant demand to rise even further over the next 12 months.

Interestingly, the report found that the majority of renters (69 per cent) are professional singles, couples or families.

Commenting on the figures, Paragon's managing director John Heron said: "There are opportunities for residential property investors with cash to spend to expand their portfolios in the current market and maybe we are starting to see evidence of this.

"This doesn't necessarily mean that investors think that we have reached the bottom of the housing market. It is more likely that they are spotting bargains in local markets and are purchasing with a long-term view."

Tags; Housing Debt and Bills,

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