Dependency on rental market 'is widespread'

Posted: 02 Jun 2011 13:15:25 GMT

A high number of young people are making use of the rental sector, it has been claimed.

Dependency on the rental market in the UK is widespread among young people, it has been suggested.

Independent property expert Malcolm Harrison stated there are many individuals in search of a place to live who need to rent property as they cannot obtain a home loan.

The specialist explained: "There is no house building, there is a shortage of decent housing in many areas and you can't get a mortgage."

However, he observed the rental market is likely to remain very tight until more housing and mortgages become available.

Many youngsters are therefore going to be very reliant on buy-to-let investors, Mr Harrison claimed, adding these landlords are right to be optimistic about their prospects at present because nobody knows what is going to happen with regard to the overall economy.

His comments came in response to LSL Property Services figures that revealed 86 per cent of proprietors intend to either maintain or increase their portfolio in the next year.
 

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