Letting agents experiencing growing demand

News Category: Marketing

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As would-be homeowners switch to rented accommodation in Burton and Ashby, local letting agents are reaping the benefits of improved business.

John Sandbach, owner of letting agent John German, told the Burton Mail that lettings demand is up by 20 per cent on last year.

In addition, Burton based Nicholas J Humphreys was reported to have experienced a 100 per cent hike in rental business compared to 2008.

"Our rental business is absolutely flying at the moment," Simon Smith, the company's director, told the newspaper.

"We are seeing that first-time buyers are just not able to get lending for a mortgage so they are renting instead," he added.

The trends highlighted by Mr Smith echoed the assessment of the residential lettings sector made last month by David Newnes, managing director of estate agent Your Move, after research by the firm showed that rental demand in December was 63 per cent higher than in the same month in 2007.

Mr Newnes explained that landlords had seen tenant demand "go through the roof" after the effects of the credit crunch forced many would-be homebuyers to switch to renting.

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