'New demand' for residential lettings

News Category: Marketing

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More Britons are switching to residential lettings in the current economic climate as they look to keep a flexible approach to their living options, it has been suggested.

According to the National Association of Estate Agents, some people who would never traditionally rent a house are now considering such accommodation.

Chris Brown, president of the professional body for estate agents, suggested that people who are moving to a different location for work are now deciding to rent over the short term, before deciding whether to move on a permanent basis.

This is because property prices are not growing, so there is no immediate rush to buy a new property, he explained.

Mr Brown added: "I hate the word 'booming' but the rental market by comparison to the sales market is doing very well."

His comments come after letting agent Your Move revealed that tenant demand was 63 per cent higher in December 2008 compared to the same month a year earlier.

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