Rental property market 'remains buoyant'

Posted: 08 Dec 2011 12:20:47 GMT

An expert has highlighted an upturn in activity in the UK rental property market

Landlords looking to increase their network or rental properties may have enjoyed a promising few months, as the sector has remained buoyant despite economic struggle.

This is the opinion of Daniel Cox, sales director at independent letting and property management company WMP Group, who claimed a shortage of dwellings has spurred increased demand.

His comments were made after the Royal Institution of Chartered Surveyors reported 19 per cent more surveyors claimed rents rose rather than reduced during the third quarter of 2011.

Additionally, research revealed supply of rental property to the market is still unable to keep up with tenant demand, but landlord instructions did also rise during this period.

Mr Cox suggested the difficulty experienced by many people attempting to take out a mortgage could be among the reasons for the increase in people opting to rent their home.

"It is difficult to save while you're renting, so it is a catch 22 situation," he added. "If the mortgage deals become better, then you'll have a chance." 

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