More Owners Renting Out Properties
27/04/2011
An increasing number of property owners have begun renting out their houses and flats after giving up hope of house prices increasing, it has been suggested.
Mark Garner, managing of LettingZone, noted many people were holding out for such rises but have now realised that they need to rent out the property.
Explaining the recent influx of higher value rental accommodation, the industry figure observed: "People with those more expensive properties have held on for as long as they possibly can and now have just got to move somewhere else."
He added the most buoyant section of the market at present relate to unmarried couples, as well as for single people.
Families also make up a considerable percentage, but not as much as they used to, Mr Garner added.
Figures from the Association of Residential Lettings Agents recently revealed an 11.6 per cent jump in the average capital value of rental homes.