December 2008 saw demand for rented accommodation mushroom, according to the UK's largest lettings agent Your Move.

Despite a 14% month on month slowdown in the number of people signing up to new leases, rental demand in December was up a massive 63% on 2007. But a dip in tenant demand is normal over the Christmas period.

Managing director of Your Move, David Newnes, said: "In 2008 the lettings market was the only good apple in a bad cart. House prices were falling, no-one could get a mortgage, economic data was abysmal. The mortgage market is still choked but the drop in lending has boosted the lettings market. People are actively choosing to rent as it offers flexibility in this market. House prices are still under pressure - potential buyers are biding their time in short term lets while they eye the market from a safe distance."

Your Move saw typical seasonal fluctuations in 2008 - December was a slower month because people are preoccupied with Christmas rather than moving house. Rental demand for the full year in 2008 was up by 49% compared to 2007.

David Newnes continued, "The credit crunch has scuppered first time buyers' chances of getting onto the property ladder. But the silver lining in this mess, is that landlords are seeing demand go through the roof."

SOURCE: MortgageIntroducer.com

Posted on: 29th Jan 2009

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	Home Services Property News Free Resources Partners Contact Page you're viewing > Home Page > Property News > Property Headlines > Rental demand rockets in December December 2008 saw demand for rented accommodation mushroom, according to the UK's largest lettings agent Your Move. Despite a 14% month on month slowdown in the number of people signing up to new leases, rental demand in December was up a massive 63% on 2007. But a dip in tenant demand is normal over the Christmas period. Managing director of Your Move, David Newnes, said: "In 2008 the lettings market was the only good apple in a bad cart. House prices were falling, no-one could get a mortgage, economic data was abysmal. The mortgage market is still choked but the drop in lending has boosted the lettings market. People are actively choosing to rent as it offers flexibility in this market. House prices are still under pressure - potential buyers are biding their time in short term lets while they eye the market from a safe distance." Your Move saw typical seasonal fluctuations in 2008 - December was a slower month because people are preoccupied with Christmas rather than moving house. Rental demand for the full year in 2008 was up by 49% compared to 2007. David Newnes continued, "The credit crunch has scuppered first time buyers' chances of getting onto the property ladder. But the silver lining in this mess, is that landlords are seeing demand go through the roof." SOURCE: MortgageIntroducer.com Posted on: 29th Jan 2009 Bookmark: del.icio.us digg Furl Facebook Reddit Yahoo Spurl Smarking Simpy Stumbleupon Tell a friend Your name Friends email Life is funny sometimes Want to borrow the deposit OK i’ll lend it to you Rates to rise Letting Managers Wanted Property Negotiators Wanted Property Negotiators Required Computer says NO again Do you have a client base Get 30+ BMV Deals EVERY Week I have a busy 16 months ahead How long will it last Buy to Let lending on its way back A bank has said YES FT reports boost in buy to let 92 per cent off Ducking n Diving want a chat how 10 minutes can change someone’s life loop hole for the 6 month rule discovered I have been quiet for a reason never miss a deal get a free consultation, READ NOW Property Networking why I buy high yielding property 2010 is the year that property got going is it the return of the NINJA if you have bad credit you can still INVEST Hip Hip Hooray Radical changes at the Ahuja Group Yesterday was a historical day for buy to let 17 alternative finance brokers and lenders This is as creative as it gets my finance journey has started property funds fall flat on their face join me in my journey in to the world of finance 90 per cent off my new book to my subscribers only I failed the credit check I am really annoyed with the lenders 3 really useful ways to home in on specific deals read my clients wishlist can I ask you a question did you watch the election debate last night? 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