Private rented sector experiencing rapid growth in demand
Published: 08-Apr-2008
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A large number of landlords in the UK maintain that there is currently a rapid growth taking place in rental demand.
That is according to new research from Paragon Mortgages, the specialist buy-to-let lender, which revealed that a third of all landlords believe tenant demand is rising sharply at the moment.
Additionally, a further increase in tenant demand over the next twelve months is expected by 48 per cent of landlords. This is due to the toughening conditions in the mortgage market.
John Heron, director of mortgages at Paragon, commented: "Our landlords are optimistic about the level of demand from tenants.
"Young people are choosing to remain in rented accommodation for longer due to the uncertain housing market outlook. This is definitely placing pressure on the stock of private rented homes available."
He added that new Capital Gains Tax rules and "cooling property prices" would not discourage professional landlords from investing in the market, so long as tenant demand is high.
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