Rental property 'could see increased demand'

Posted: 31 Jul 2009 10:07:50 GMT

More and more people will choose to rent a property instead of buying a house in the near-term, it has been claimed.

An increase in rentals has been predicted by upad, an online service providing information about London properties to rent.

James Davies, founder and chief executive officer of the company, explained the potential increase in demand.

Factors that may lead people to choose to rent a property include a successful working culture, an increase in population and the fact that people are choosing to get married later in life, Mr Davies posited.

"It is no longer a taboo to rent," he commented, going on to add: "Demand for rental properties is going to be increasing."

However, this may impact on rental prices if supply does not meet demand, Mr Davies cautioned.

According to the FindaProperty.co.uk Rental Index, the average price for a rented property increased from £823 to £825 between June and July this year.

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