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UK rental market experiencing growth

UK letting agents are reporting a surge of optimism in the property market, according to recent research*. The results indicate that agents are much more positive about the future of the rental market than they were a year ago, with 98% expecting the lettings market to stay the same, grow or grow substantially in the year ahead.

This figure reflects previous findings released by the Association of Residential Lettings Agents (ARLA), who reported that during the final three months of 2009 41% of ARLA members saw more tenants than properties, compared with just 24% in the previous quarter.

In addition, the ARLA figures also revealed that 54% of landlords believe that Britons are currently being forced to rent as opposed to buying a property. The typical landlord achieved a return of £12,740 per property in 2009, comprising £4,831 in capital growth and £7,909 in rental income.

Source: Homemove

* Research by HomeLet

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