Liverpool property market 'conducive for rentals'

News Category: Industry News

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Pent-up demand from frustrated prospective buyers is leading to a favourable climate for letting agents in the Liverpool area, according to a local estate agent.

Andy Ferguson, co-founder of the Waterloo-based Logic Estate Agents, has described the current climate as "a good time for rentals" due to the slow recovery of the property market and the continued high deposit levels requested by lenders.

However, Mr Ferguson forecast that cheaper properties and falling mortgage rates could soon prompt more movement in the buying market should deposit levels fall.

He said: "There are lots of people who have been renting and couldn't afford to buy, who are now coming out from rented accommodation and looking at buying and getting on the property ladder."

Earlier this week, statistics from PropertyLive suggested that economic conditions are continuing to deter non-homeowners from entering the market, with 65 per cent stating they no longer expect to ever own a property.

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