South Devon lettings market 'is buoyant'
News Category: Industry News
Published: 23-Sep-2008
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Letting agents in South Devon are experiencing a spike in the number of homes on their books, it has been reported.
Nigel Green Property Sales claims that its rental business is 35 per cent up compared with last year, while rival lettings agents Wood Fox and Tulfords have also said they are seeing greater numbers of homes being offered for rent.
Nigel Green, managing director of the firm, said that the trend is being fed by the shortage of would-be buyers in the area, who have found financing for house purchases hard to come by in the credit crunch.
He explained: "We have found this year that the rental market is booming.
"People who can't sell their properties are letting them out instead and we have seen a significant increase in the number of properties to let compared to the same time last year."
His sentiments were echoed by Rob Loyd of Wood Fox, who described the lettings market in the area as "buoyant".
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