8 Feb

Demand for houses to rent in 2011 could stay strong

Demand for houses to rent in 2011 could stay strong

Demand for houses to rent in the UK may remain strong in 2011 in light of a survey by the Royal Institution of Chartered Surveyors (Rics).

Concerns surrounding the mortgage market and the economy mean people are cautious about property for sale in 2011.

The lack of buyer demand in the housing market could mean a boost for landlords, with people choosing to rent instead of buy.

According to a report by Rics, seven per cent more surveyors said demand for houses for sale in the UK fell rather than rose.

In addition, recent sales continued to fall, with 14.6 sales per surveyor on average in the three months to January.

According to the institution, this is the lowest figure since June 2009.

However, people trying to get onto to the property ladder could benefit from low house prices in the current economic climate.

According to the report, 31 per cent more surveyors saw house prices fall in January.

Norwich and Peterborough Building Society recently announced new mortgage deals which could be benefit first-time buyers.

An 85 per cent loan-to-value mortgage with a rate of 2.59 per cent for two years is now available from the building society.ADNFCR-1222-ID-800391830-ADNFCR

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