'Cautious optimism' in the residential lettings market
News Category: Marketing
Published: 23-Dec-2008
This article was brought to you by Rentman the premium rent management software.
Landlords and letting agents can be cautiously optimistic about the health of the residential lettings market in 2009, an expert has suggested.
Time Hyatt, head of UK lettings at Knight Frank, commented that Britons are likely to be attracted to rental accommodation because of the flexibility if offers during the current economic climate.
He said: "Landlords can be cautiously optimistic but need to be very flexible as they enter the new year if they are to prosper in this difficult market."
Statistics released by Knight Frank today this week showed that rent prices in London fell by 9.6 per cent during the fourth quarter of 2008.
It comes after Rics revealed in November that it had recorded falling rent levels for the first time in five-and-a-half years.
Over-supply as a result of rising numbers of 'reluctant landlords' entering the rental market was cited as a key factor behind the trend.
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