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Posted by Craig Williams

Demand for rental properties from prospective tenants reached record levels in 2010, new research has shown.

According to a study conducted by Countrywide and letting agency Group, the number of new tenants registering for rented accommodation was in excess of 200,000 in 2010, a figure which represents the highest level seen in recent years.

Meanwhile, this number is also a 37 per cent rise on the amount of applications made in 2009 and the average number of letting houses available dropped by 29 per cent from 2009 to 2010.

Grenville Turner, chief executive at Countrywide, noted that this trend could be set to continue, as "the continued challenges faced by homebuyers to gain mortgage finance is likely to see more people turning to the private rental sector this year".

This comes after the National Association of Estate Agents stated recently that the number of people wanting to both buy and sell properties in the UK increased in the early part of 2011.
 

24/01/2011 14:51