New builds create new properties in the rental market

The amount of availability in the rental market has had a new surge as many new buildings have come onto the market, which are small and have recently been constructed. It is estimated that over 40 percent of rental agents in the UK have seen an increase in this type of property come onto the market. Generally, the rental is taking place, not because these buildings have been specifically built with rental in mind, but because they are not able to be sold.

The managing director of the Association of Residential Letting Agents is Ian Potter and he is recently commented, “Many landlords see these as a good investment if they are buying a buy to let property. This is particularly true if the landlord is looking at investing in property in a city. Typically, they do not require a great deal of maintenance, and are popular with young professionals who are easy to deal with. For this reason, and others, the property market has recently become flooded with these sort of appealing properties.”

According to the property company, HomeLetAccording to the company,, the average amount of rent the tenants in the UK are paying has risen once again. The average figure is now over £800 a month, which is the first time that the £800 barrier has been broken. It is estimated in August, the amount of rent people were paying increased by over two percent compared to the previous month.

The managing director of HomeLet is Ian Fraser and he is commented, “Interestingly, we have seen the average age of property buyers rise to 37, which is a strong indicator that people are struggling to get on the property market. Renting has become a way of life for many people, and it seems as if people are going to be remaining in rented accommodation for a long time to come.”