Find property to buy, property to rent and find estate agents in the UK with estateagents.co.uk
Property Guides
Buying property
Selling property
Estate agent fees
Free property guides
Conveyancing services
Mortgage services
See all Property Guides
Find Property in the UK
England
Scotland
Wales
Northern Ireland
Free conveyancing costs quote comparison
My estateagents
Saved properties
Saved searches
What I last viewed
Email updates
Growing Demand For Rental Accommodation Reported

Wed, 25 Feb 2009
The current slump in the UK property market is forcing many potential home buyers into rental accommodation, new research has found.

Latest figures from the National Association of Estate Agents (NAEA) show that some people who would never traditionally rent a house are now considering such accommodation as they are reluctant to enter the property market in its current condition.

Analysis from the group showed that while house prices have fallen by around 15 per cent in the last year, rental accommodation remains a more financially attractive option for many UK residents.

NAEA president Chris Brown said: "I hate the word 'booming' but the rental market by comparison to the sales market is doing very well."

His comments come after letting agent Your Move revealed that tenant demand was 63 per cent higher in December 2008 compared to the same month the previous year.

The Intermediary Mortgage Lenders Association found that 58 per cent of first-time buyers interviewed in the last quarter of 2008 had their mortgage applications rejected and of these, 80 per cent were forced into the rental market.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.
newsnews rss