Have you considered the Rental Market?

7th February 2012

Sales transactions have fallen nationally from 1.6 million in 2007 to less than 800,000 last year representing a fall of over 50%. Add to this property prices in the North East falling between 3.2%-7.1% year on year selling your property is not necessarily the best option for those owner occupiers who want or need to relocate, leading to an increase in those considering renting.

Continuing recession and rising unemployment is driving homeowners to seek employment wherever they can find it and an increasing number are making the decision to let their property under an Assured Shorthold Tenancy, rather than becoming yet another frustrated vendor.

George F White let large farmhouses with land, barn conversions, family houses and cottages to a varity of tenants ranging from first time buyers who are trying to save up enough money for a deposit to wealthy cash buyers who do not want to reinvest in the property market at this moment in time.

For example we currently have a client with a growing family who needs more space so instead of selling his 3 bedroom house, he has decided to rent it out and use the income to put towards renting a 5 bedroom farmhouse that would have been out of his reach if he were buying. In this way he is keeping a foot on the property ladder while improving his family quality of life. This is becoming a more common occurrence and shows a change in people’s perceptions towards renting.

At George F White we have a dedicated team that will make renting your property a smooth process from the initial valuation, through to signing up the new tenants and fully managing your property. In today’s market landlords have chosen to have their properties managed by George F White because they trust us to look after their most important asset.

Despite the challenging times ahead, we are thriving on the growing demand for our services, with property management teams throughout the firm providing top quality Tenant Find and Full Managed Services.

If you have been trying to sell your house for some time without success ring your nearest George F White office to discuss your options regarding renting. It could give you the spring board that you have been looking for with a lot less hassle.

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