Increasing house prices have ensured that tenant demands and rents have gone up.
The Royal Institution of Chartered Surveyors (RICS) in their quarterly survey highlight that rents have increased as tenants come back to the lettings market.
Chartered surveyors report the greatest increase in tenant demand in the last 4.5 years, with 27% more reporting an increase in new lettings than a decrease (23% in October 2005).
Rents went up at the same pace in relation to flats and houses, with the rent rises for flats the greatest in 4.5 years.
Considering the supply side, there was an increase in landlords coming back to the market. 19% more surveyors reported an increase in new instructions as opposed to a decrease, compared with 14% in October 2005.
The perked up activity, so states the report, is partially down to a renewed increase in house prices which is encouraging potential buyers, especially first-time buyers, to return to the rental market.
August 2005's interest rate cut rendered property highly attractive, introducing numerous new property investors to the residential market. Many property investors depend on their property for pensions, thus interest in investment is still strong.
Just 5% of landlords have sold buy-to-let holdings in the last three months, compared to 7% in the same period in 2005.
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Higher House Prices Boost Tenant Demand Fri, 10 Mar 2006
     Recommended linksHouse Prices Go Up 5.5% in 2005Rental Accommodation Increases Buy to Let Thriving Rents Rise in Northern Regions |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2008 estateagents.co.uk
© 1999-2008 estateagents.co.uk