Monday, 17 October 2011

Popularity of renting causing shortage of properties to rent!!!

The recent high demand for rental properties Is generating a crisis in the British rental market according to a new survey. The Association of Residential Letting Agents fears that due to a record hi of new tenancies in the private rental sector signed this year, the sector is close to bursting!! The regulatory body, responsible for letting agents in the UK, surveyed over 6,000 members of whom 74% responded that the demand for rental properties far outweighs the supply within the sector since the record high was reached earlier this year. According to the survey, the increase was least drastic in London and the South-east, saying that some of the tenants were now staying in properties for over 18 months due to the worry of finding a similar or upgraded property in the hily competitive market that currently exists. Need conveyancing? Visit us today for your free quote at the most competitive rates around!!

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