Monday, 4 April 2011

Lettings rise in Midlands and North - Spend & Save , Money - The Independent

Lettings rise in Midlands and North - Spend & Save , Money - The Independent

Demand for rental property has begun to soar in the Midlands and the North, according to a report from Sequence Lettings, a national chain of agents owned by Skipton Building Society.

Sequence reports a 37 per cent rise since the start of the year in the number of people looking to rent. Previously, it was thought to be only London and the South-east experiencing a busy lettings market.

"With the number of UK households increasing and uncertainty over jobs and the economy, we have seen a trend of people renting for longer," said Stephen Nation of Sequence. Experts also say strict lending criteria are stifling the market, making it hard for first-time buyers. Many who would once have bought are staying in the rental sector.

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