Rental market flooding 'beginning to ease'
News Category: Industry News
Published: 30-Jul-2009
This article was brought to you by Rentman the premium rent management software.
Landlords have been given a positive indication that the issues of oversupply and falling rents in the lettings market are beginning to abate.
Property website FindaProperty.com has published its rental index for July 2009, revealing that stock levels have fallen 1.7 per cent since their peak as reluctant landlords look to return to a recovering sales market.
This fact, combined with a typical increase in rental demand in summer, has led to the average asking prices rising by £6 pcm since May.
Michael O'Flynn, director of FindaProperty.com, said: "If the sales market continues to strengthen as it has done since April, this is likely to further support recovery … as landlords are encouraged to sell before interest rates start rising, reducing rental supply."
The news comes after a report from Paragon Mortgages earlier this month revealed that landlords were seeing an increase in yields as a result of rising demand for rented property.
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