Monday 8 August 2011

UK property letting in robust health | Europe | News

UK property letting in robust health | Europe | News

The UK property lettings market is in robust health but landlords should be aware of the pitfalls of a buoyant sector, it is claimed.

According to Caroline Kavanagh, group lettings director for Townends Estate Agents, part of Badger Holdings, it has been a positive first half to the year.

‘The market has remained positive with demand in many places continuing to outstrip supply, giving landlords the choice to pick and choose their preferred tenants to a degree. There has been a clear trend of an increasing number of tenants wanting to stay on in what we classify as prime rental properties. These are defined as well located properties which are presented in truly excellent condition throughout,’ she said.

Her research has found that in London and Surrey, demand for these prime properties is outstripping supply and tenants are recognising that their current deal might be the best they are going to get, as rents, despite appearing to have stabilised at the half year point, have risen significantly since January.

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