According to a survey by a provider of residential property services, letting agents are going to have their hands full this year, as, contrary to a recent claim by RICS, landlords are predicting tenant demand to grow.
Over 2,000 landlords took part in the survey, 41% of whom reported a rise in tenant demand in the last six months. Just one in sixteen reported a decline. The majority were found to be confident about 2014, with 58% expecting tenant demand to grow even more, while one in ten think it will fall.
16% of landlords reported growing their portfolios in 2013. 18% expect to expand this year.
Altogether, the private rented sector hasn’t looked this rosy in a while. The UK property market has recovered well, and house prices have risen as a result, which has itself fuelled an increase in tenant demand. With the UK economy having taken an unexpected upturn, there is an increased feeling of stability that is providing a solid platform for increased buy-to-let investment.
The continued, and increasing, demand for rental homes is proving the healthy state of the sector and its potential for profitable long-term investment.
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