Insurance News Archive

'Rise but no mad rush' of rental demand in 2008

Next year will be a good one for landlords as more people look to rented accommodation, claimed an expert.

However, Tom Entwistle, editor of the Landordzone website said that he did not anticipate a "mad rush".

A survey by the Royal Institution of Chartered Surveyors (RICS) found that demand for rental accommodation reached record levels in September in 2007, and Mr Entwistle predicted that more people would be looking to rent in 2008.

He said there would be a slight rise but no "mad rush" and noted that if the predicted rise in repossessions takes place, more people will be looking to rent.

However, he noted that in some areas such as inner city areas where apartments are oversupplied, rents will actually come down.

A report by National Homebuyers has suggested that the British obsession with owning bricks and mortar may be replaced with a tendency to rent.

20 Dec 2007