Estate agent reports lettings rush
News Category: Industry News
Published: 29-Dec-2008
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The number of new leases signed by tenants at Your Move offices in Britain increased 61 per cent year-on-year to November 2008, new figures have revealed.
The number of leases signed rose 1.3 per cent over the month, while mortgage lending dipped, as potential property buyers continue to adopt a wait and see approach to the housing market.
David Newnes, Your Move managing director, said: "This year has been extraordinary for lettings. The credit crunch is showing no signs of abating: what was an ocean of mortgage finance is now a mere trickle."
Mr Newnes predicted that the rental market will do well next year, as buyers find it more difficult to access home loans and the economy contracts.
Meanwhile, Kate Hayden, head of lettings at Cardiff company Thomas George, told the Western Mail that the last quarter of the year was unexpectedly busy and she witnessed a pre-Christmas lettings rush this year.
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