7 Jul

Property to rent 'faces rise in demand'

Property to rent 'faces rise in demand'

There are more people looking for properties to rent in the UK than there are available houses, a report has stated.

Recent research by KeyNote has found that there are 20 per cent fewer properties available from lettings agents than at this time last year, according to Email4property.co.uk.

This could be good news for landlords, KeyNote's head of marketing Steve Lees said, as "fierce competition from tenants means that when properties do become available they are snapped up".

He added that this has resulted in a rise in rental prices.

However, Mr Lees predicted that the property market will settle over the coming months, as last month's increase of the capital gains tax from 18 per cent to 28 per cent for high-earners was lower than expected for many property investors.

This will encourage more landlords to put money into buying rental properties and meet the demand of tenants, he commented.
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