28 Jan

Private rental sector 'vital to support housing market'

Private rental sector 'vital to support housing market'

The private rental sector is vitally important in terms of supporting the housing demands of residents in the UK, it has been asserted.

A spokesperson for the National Approved Letting Scheme explained that private landlords have filled the gap left by the right to buy initiative.

"Without the private rental sector, without buy-to-let investments and without private sector leasing schemes [from] local authorities, there would be a very, very serious housing crisis," the representative stated.

He also noted that people in the UK are beginning to change their attitude towards renting, preferring the flexibility it offers rather than being tied down by purchasing a house.

According to research carried out by the Association of Residential Lettings Agents (ARLA), during the final three months of 2009, 41 per cent of its members reported that they had more tenants on their books than properties available.

This figure increased dramatically compared with the third quarter of last year, when just 24 per cent of ARLA members claimed to have more tenants than rental options.ADNFCR-1222-ID-19585100-ADNFCR

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