UK rental market 'still buoyant'

Posted: 29 Jun 2011 13:28:10 GMT

The rental market in the UK is continuing its surge, it has been found.

A buoyancy remains in the UK rental market at present, with the sales field continuing to be fairly flat, new research has shown.

According to figures from Countrywide, the rental sector is enjoying a surge because limited mortgage affordability and elevated house prices are making it increasingly difficult to purchase property.

The number of new tenants registering for rental accommodation jumped by 20 per cent in May.

This represented a 28 per cent rise on last year's statistics for the same month, while the amount of homeowners thinking about putting their place up for rent increased by 15.5 per cent last month.

Chief executive of Countrywide Grenville Turner commented: "The hesitant nature of the current sales market is seeing an increasing number of homeowners considering dual marketing their properties in the sales and the rental market."

The findings follow recent figures provided by Santander Mortgages, which revealed one-in-ten homeowners are currently renting out rooms in their abodes in an effort to raise money.
 

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