'Increase seen' in tenant demand

Posted: 12 Oct 2011 15:44:43 GMT

The third quarter saw demand for private rented sector property continue to climb.

A notable increase in tenant demand for private rented sector property was seen during the third quarter of 2011, new research has shown.

Carried out by Paragon, the study revealed 44 per cent of landlords saw such movement over the three-month period, while just four per cent claimed it had declined.

In addition, 49 per cent of those questioned said they expect the trend to continue upwards over the next 12 months.

Nigel Terrington, chief executive of Paragon - which unveiled its first mortgage product for residential property investors in the middle of the 1990s - observed he is not surprised that tenant demand is on the increase in this field, due to the pressures currently weighing down on the UK housing market.

The industry figure stated: "More people than ever before are relying on the private rented sector so it is positive to see that landlords are looking to invest in their portfolios."
 

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