Housing market 'affected by pent-up demand'
www.moneynews.co.uk > Housing market > Housing market 'affected by pent-up demand'
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Money News |
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Housing market 'affected by pent-up demand'
Mon 28th Sep 2009
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Nicholas Leeming, director of propertyfinder.com, pointed out that the "dearth" of mortgage funding means people have no choice but to rent their flat or house.
He noted that there are still some good prices to be had in the rental sector, even if it is on the increase at the moment.
Mr Leeming said: "Rent levels have been recovering in recent months and demand from frustrated would-be buyers will only push up rents further."
His comments followed the release of research by propertyfinder.com which indicated that stock levels of rental properties dropped by 6.2 per cent in September compared to August.
This situation is the opposite of last year, remarked Mr Leeming, when landlords who were unable to sell their properties were forced to put them all in the rental market, which pushed rent levels down because of the flood of supply.
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