Booming Lettings Market
The latest news from the house sales market may seem a little depressing but the lettings market continues to boom reports Andrew Oulsnam, Managing Partner of Robert Oulsnam & Company.
What has been particularly noticeable in the last month is the increasing number of sales of homes to buy to let landlords and also a marked number of the converse ‘Let to Buy’ purchasers where an owner rents out his own home and buys a new house for himself.
Tenant demand has never been so high with many homes letting within days of coming onto the market and with rents on properties starting to creep up again, this is clearly encouraging many investors to look at putting their money into property rather than in the bank or into stocks and shares.
Other recent surveys have indicated there may be a major change in how younger people view acquiring a home. Many are starting to take the view that they will never be able to achieve a 20 or 30% deposit and are accepting that renting a property is the only way forward. In much of Europe in fact most families never aspire to own but always assume that they will rent all of their lives and there could be a see change in this country with many people beginning to view properties in the same way. Figures for Birmingham and Worcestershire not only showed a continuing surge in demand by tenants for rented property, it also showed a big surge in properties to let coming onto the market leading to these record figures.
Robert Oulsnam & Company prides itself on the quality of service it provides in all spheres, not least to landlords and tenants which may explain why many more people are turning to this company, commented Andrew Oulsnam. If you are considering letting your property, please contact us on 0121 445 7410.