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Conveyancing Demand Increases for Rental Property
July 18 2011
According to the latest quarterly Landlords Panel research from BDRC Continental in partnership with the National Landlords Association, almost half of landlords believe demand for rental property from tenants has increased.
According to the latest quarterly Landlords Panel research from BDRC Continental in partnership with the National Landlords Association, almost half of landlords believe demand for rental property from tenants has increased.
The research shows that landlords have fared well over the last three months. They are also optimistic about the future, with 49% expecting demand to continue increasing and just 6% predicting a fall. What's more there are signs that rental property continues to be a popular investment, with a larger proportion of landlords expanding their property portfolio as opposed to reducing it.
A shrinking owner-occupier sector, lack of new homes and fewer homes in the social rented sector means tenant demand is at an all-time high.
In a survey by the Halifax 95% of 20 to 45 year olds claimed they have no spare cash, no interest in saving for a deposit, or were trying to save but failing to do so. As well as these potential first time buyers entering the rental market there are also existing homeowners who, in an attempt to rid themselves of expensive mortgage payments, are selling their properties and moving into rented accommodation.
Georgina Fletcher, Conveyancer at Leeds Solicitors Grahame Stowe Bateson commented, "At GSB Solicitors we have seen an increase in the demand for conveyancing services from landlords. This is due to the demand for their properties being very high and them seeing the potential for further investment."
"We have also seen an increase in conveyancing for property sales where clients are selling up to rid themselves of their mortgage and moving into cheaper rented accommodation."
For more information on Leeds Conveyancing Services, contact Georgina Fletcher on 0113 2744611 or .(JavaScript must be enabled to view this email address)