31 Jul

Rental market 'likely to remain stable'

Rental market 'likely to remain stable'

A combination of rising demand and increased supply is likely to keep the rental market stable in the coming months, the editor of Landlordzone has said.

Tom Entwhistle noted that tighter mortgage lending conditions and years of steep price rises have made it difficult for young people to get onto the property ladder, which has pushed rental demand up.

However, he also stated that because many homeowners are finding it difficult to sell their property some are choosing to let it out instead, increasing supply.

"The demand for rentals is going to be maintained but I can't see it going through the roof and expanding too much," Mr Entwhistle concluded.

His comments follow the release of data from Hurford Salvi Carr that showed a 5.5 per cent rise in new lettings in the first quarter of 2008, compared to the same period in 2007.

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