Marketing opportunities for letting agents
News Category: Industry News
Published: 29-Oct-2008
Letting agents have an opportunity to take advantage of the current economic downturn by attracting would-be first-time buyers (FTBs) into renting, a study has suggested.
Research by Your Move has shown that potential FTBs are struggling to afford their own homes - despite falling house prices - as the effect of the credit crunch begins to bite on consumers' finances.
There has been a 50 per cent annual increase in demand for rented accommodation, the group revealed in its latest figures.
Some 4.34 per cent more leases were signed by tenants during September, the study also found.
Your Move managing director David Newnes said the findings show that the lettings market in the UK is "thriving".
"We are seeing the strongest tenant demand we’ve ever had, far beyond normal seasonal fluctuations," he added.
A mortgage market survey by Spicerhaart Financial Services, published earlier this month, revealed that 58 per cent more buy-to-letmortgages were taken out by borrowers in September, which represented the largest monthly increase in over 12 months.
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