13 Dec

Rental demand 'set to grow in 2008'

Rental demand 'set to grow in 2008'

The UK rental sector can expect to see good growth throughout 2008 and will remain a strong market, it has been claimed.

Chris Horne, editor of Property Hawk, has suggested that speculation over house prices is likely to discourage first-time buyers from buying in early 2008, allowing the rental market to remain strong.

There have been some claims that the property market could be set to crash in 2008, but while that would eventually let first-time buyers to enter the market, Mr Horne pointed out that most would want to wait until the market had bottomed-out before getting a foot onto the property ladder.

He explained: "If anything, the uncertainty with house prices will put off potential first-time buyers - on the basis that they could, potentially, buy a house cheaper later on.

Mr Horne concluded: "I think rental demand will be growing and strong into 2008, as people sit back and wait to see what happens with the market."

Statistics from the Council of Mortgage Lenders have revealed that in October this year the average first-time buyer age was 29, as young people struggle to get a foothold on the property ladder.
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