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Rental demand rises by +7%

There was an increase in demand for rental accommodation by +7% in January 2010 compared to January 2009, which was also up by +7% on January 2008, according to Leaders.

The number of lets increased by +3% in January 2010 compared with January 2009 but Leaders believe that the figure could have been higher if it wasn’t for the disruption caused by adverse weather in the first two weeks of the month.

Paul Weller, managing director of Leaders, said: "Despite the disruption of the snow during the first two weeks of January, most of our branches experienced an incredibly busy month, with high demand for all types of properties, from studio and one or two bedroom flats to big and small family homes. We are finding that good quality properties are being snapped up quickly with many people waiting for more to come onto the market. This is an excellent time for anyone considering buying a property to let, or renting out their home, to enter the lettings market."

Despite the UK officially coming out of recession, the lack of finance according to Leaders is certainly having a stifling effect on the buy-to-let market, however it has seen an increase in enquiries from landlords, both those looking to extend their portfolios and new landlords looking to buy a property to let for the first time, since the start of the year.

Weller said: "Overall, we are very positive about 2010 as we expect the high demand for rented accommodation to continue in the face of both the slow sales market and the wider economic uncertainty."

Leaders’ covers the following areas of Sussex, Hampshire, Surrey, Hertfordshire, Berkshire, Buckinghamshire and Dorset.

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