21 Feb

Demand for houses to rent in UK hits two-year high

Demand for houses to rent in UK hits two-year high

Buy-to-let investors could see an increase in demand for properties to rent in 2011.

Demand for privately rented flats and houses hit a two-year high in the fourth quarter of 2010, with more people looking for houses to rent in the UK, according to Paragon Mortgages.

The number of landlords reporting growing tenant demand was at its highest level since the fourth quarter of 2008.

In addition, four out of ten landlords said demand grew further towards the end of the year.

Nigel Terrington, chief executive of the Paragon Group, said: "Tenant demand shows no signs of slowing down.

"The housing market is presenting some strong buying opportunities and landlords are well placed to take advantage."

Prime London postcodes are also offering significant opportunities for buy-to-let investors.

The cost of letting a house or flat in London is forecast to grow by eight per cent across prime locations and seven per cent in prime central zones, according to Savills.

Last year, monthly rents for prime property in London grew by 11.5 per cent.ADNFCR-1222-ID-800418034-ADNFCR

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