Landlords 'enjoying strong tenant demand'

Posted: 14 Oct 2008 13:03:01 GMT

More than half of Britain's landlords are witnessing growing levels of tenant demand, it has been revealed.

According to new research from Paragon Mortgages, 51 per cent of landlords enjoyed rising interest from tenants in the third quarter of 2008.

The survey of private property investors also revealed high confidence in the private rented sector, despite the global credit crunch.

In fact, 57.8 per cent expected that tenant demand will continue to grow in the next 12 months, up from 53.9 per cent in the previous quarter of 2008.

With so many people being forced to rent property instead of buy, landlords are also witnessing declines in their average void periods, which now stand at 2.6 weeks per year - down from 2.7 weeks in the second quarter.

"We are now over a year into the credit crunch and landlords continue to see growing levels of tenant demand, and this doesn't look like tailing off over the coming months," said John Heron, managing director of Paragon Mortgages.

Meanwhile, HomesMatter, an estate agent in Hertfordshire, has warned that landlords could lose £100 million attaining energy performance certificates in 2009 unless the government advises them on how to act upon the results.

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