Shortage of properties to rent 'is set to continue'

Posted: 19 Jul 2010 11:33:46 GMT

The supply of rental properties is at an all-time low and looks set to continue for the next four or five years, one expert has suggested.

Managing director at LettingZone Mark Garner said more tenants are seeking property, but this is not matched by the amount of abodes, as there is a clear imbalance between the two.

"If lending criteria was relaxed a bit and it was easier to borrow money, then there would be more stock coming on the market," he added.

Mr Garner also noted many Britons are finding it hard to raise a 25 per cent deposit and so are finding it "very difficult" to purchase a house.

He explained renters are staying put, as it is too expensive to move and the lack of new dwellings is because landlords are struggling with how stretched the mortgage market is at the moment.

The specialist's comments follow the release of a report from Association of Residential Lettings Agents, which revealed 70 per cent of its members stated there are more tenants available than properties.


© Houseladder Ltd