Lincolnshire letting agent boosted by rental boom
News Category: Industry News
Published: 11-Aug-2008
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Soaring demand for rental accommodation has boosted profits for a Lincoln-based letting agent.
Lighthouse Property Services has been among the firms to benefit from the downturn in the property sector which has prompted would-be buyers to delay their purchases in anticipation that prices will fall further in months to come.
This helped the company to over 20 residential properties every month for the first half of this year.
Furthermore, in a sign that demand is escalating further, 28 residential properties have been let out in July alone, the Lincolnshire Echo reports.
Simon Sewell, private lettings manager at the letting agency, said that the firm had noted a rise in tenants seeking luxury and high-end accommodation, with the areas of Harmston and Fillingham proving particularly sought after.
The growth of the rental sector has also been a consequence of tighter mortgage lending criteria being imposed by banks and building societies, which has frozen people out of house buying.
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