Thursday, 29 December 2011

Future of private lettings in 2012 looks uncertain with mixed outlook....

According to the Association of Residential Lettings Agents, the challenging conditions that the private rented property sector faces in 2012 could spark a drastic improvement in standards. With the current imbalance in supply and demand set to continue in 2012, the prediction by the Association states that there is likely to be a rise in arrears and repossessions as things are going to get worse before they can improve. Operations manager at ARLA, Ian Potter has said that ‘The package of measures unveiled in the government's Housing Strategy could go some way to helping get the wider housing market moving. However it will take time for the measures to have an impact, and in the meantime the issue of a severe lack of stock will continue to affect the PRS well into 2012, particularly in London and the South East.' He added that ‘Almost three quarters of ARLA members, 74%, already report that there are more tenants than available properties, and this is a story we're likely to see worsen. However, there is some anecdotal evidence in parts of the country that stock levels of rental property could be increasing.' To compare conveyancing quotes and find the best solicitor for YOU, visit US!!

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