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Landlords seeing rise in demand from youngsters
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Over 40% of landlords have experienced an increase in tenant demand during the last twelve months, according to new research from Paragon Mortgages.
43% of landlords questioned said that they had noted a rise, with this growth being driven by young people and small families. In addition, 51% of landlords said that they expected growth to continue during the next year.[1]
Young renters
The survey revealed that 47% of landlords rent to young couples, 43% to young singletons and 42% to small families.[1]
‘It is no surprise that rental demand is steadily increasing,’ said John Heron, Managing Director of Paragon Mortgages. ‘With continued stress on the housing stock driving prices up, tough affordability hurdles for would be buyers and a social rented sector under pressure as a result of renewed interest in right to buy, a steady increase in rental demand was practically inevitable.’[1]
Landlords seeing rise in demand from youngsters
Heron belives that,’ it is important that landlords continue to expand the supply of rented property in order to maintain balance and so avoid unsustainable increases in rents. A healthy, competitive and innovative buy to let market is critical to this.’[1]
[1] http://www.propertywire.com/news/europe/uk-landlords-tenant-demand-2015070610714.html
