Demand for rented properties 'increasing'

The number of surplus properties on the letting market is reducing, new research has found, which may prompt people looking for flats to rent in Fulham or another part of London to get their skates on.

New research from the Association of Residential Letting Agents (ARLA) revealed during the fourth quarter of 2009, 41 per cent of its members reported they had more tenants than properties.

This is in comparison to the 24 per cent of members who made this assertion during the previous quarter.

Ian Potter, operations manager at ARLA, said: "Many people now in a position to buy are struggling to find the right property, as there is also a shortage of both properties for sale and realistic mortgages."

These people, teamed with increasing numbers of Britons who have had to sell their property due to financial instability has driven this rise in demand, Mr Potter explained, adding more individuals would now learn the benefits of living in a rented home.

This may include those looking for flats to rent in Fulham or another part of London.

Commenting on the figures, the National Landlords Association recently claimed many Britons prefer renting as they do not have to worry about the costs of keeping up with home repairs and maintenance.

Written by Chris Price

Published 25th January, 2010

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