12 Apr

Rental market is related to the economy

Rental market is related to the economy

The rental market in the UK runs "contrary to the economy" according to one expert, who said that when the economy is performing badly, the private sector in rented homes will perform much better.

Michael Banks, commercial director at Upad, said that people are less willing to purchase a home when the economy does not look good because of poor job security and prospects, leaving them in rented homes.

"People are less willing to buy when there are question marks [about jobs]. The rental market runs contrary to the economy generally; the more uncertain the economy, the more buoyant the rental market," he noted, which is good news in general for landlords.

It was also announced this week that rental prices in central London prime property have fallen by 0.1 per cent in March, adding to the overall decrease of 0.8 per cent since October of 2011, before which it had been performing well.ADNFCR-1222-ID-801338784-ADNFCR

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