Local markets will vary, expert says

News Category: Marketing

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Letting agents might benefit from residential software because of the need to study a "very patchy" rental property market, it has been suggested.

According to the Arla, rental prices are set to "vary tremendously" in the near future and landlords and lettings operators need to study their local markets.

Oversupply could be a problem in some local areas but in other regions demand could outstrip supply, a spokesman for Arla noted.

He added that this has always been the case with the rental market, operators need to watch activity in their local areas.

The private-rented sector is a much more fluid compared to the sales market, the Arla spokesman commented.

On how landlords should approach the current climate, he said: "The days of sweeping national averages have gone; different areas will have different situations.

"It is much more patchy than it ever has [been]."

Figures published this month by the National Landlords Association showed that 71 per cent of landlords expect to experience an increase in rental arrears next year.

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