More letting properties 'needed in the market'

Posted: 06 Jul 2010 11:58:40 GMT

There is a lack of available property for those looking to rent, it has been suggested.

Research by Key Note, which claims to be a leading supplier of market and business intelligence, has found that 95 per cent of 16 to 19-year-olds questioned said they expected to use a letting agent rather than buy their home in the future.

Nick Barrow, branch manager at Linley and Simpson in Leeds, backed up the claims that demand is outstripping supply.

He noted the number of properties on his establishment's books has decreased by at least 20 per cent over the last year.

"This is because many tenants are deciding to stay in their current properties rather than terminate contracts and there are fewer individual buy-to-let landlords entering the market," Mr Barrow remarked.

The specialist stated the Leeds area has a particular shortage of three-bedroom family homes being advertised, which has increased rental prices by five to ten per cent.


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