Never Been A Better Time To Rent Your House
Accordinging to a national newspaper, the number of people renting a home has soared by 40% during the past five years as low levels of house building and the mortgage drought have prevented potential buyers from getting on to the property ladder.
The latest statistics reveal approximately 3.4 million households were living in privately rented accommodation during 2009/10, up from 2.4 million in 2005, according to the English Housing Survey.
So what has been the impact of this?
Well according to the April 2011 Uk Residential Lettings Survey from the Royal Institution of Chartered Surveyors (RICS) “Increased tenant deman and low levels of rental property coming onto the market continue to push rents higher“
Overall, 42% more surveyors reported rents rose in the three months to April.
This despite and upturn in new instructions, supply to the market still remains unable to keep up with demand from would be tenants. Tim Hawe, Head of Alnwick Residential comments “The George F White Alnwick office recently let eight properties in a single weekend”.
So if you are considering renting your property, now has never been a better time. Get in touch with your local George F White office for more details.