Tenant demand increases in Q3

Demand for rental housing is continuing to increase as people struggle to find cheap mortgages, it has been claimed.

Specialist buy-to-let lender Paragon said that more than four in ten landlords said that tenant demand has increased during the third quarter, while only four per cent claimed it had declined.

When asked for their views on tenant demand for the coming year, almost half said they expect tenant demand to continue to increase.

The study revealed that the average period of rental properties standing empty was just 2.8 weeks in quarter three.

Nigel Terrington, chief executive of Paragon, said: "Tenant demand has continued to increase for a third quarter, which is perhaps not surprising considering the current squeeze on the UK housing market as a whole."

Meanwhile, new figures from the Council of Mortgage Lenders found that remortgaging in August was 30 per cent higher than last year.

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2011-10-12 17:05:42 © Moneyextra.com