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The imbalance between high demand for private rented accommodation and the limited supply will continue to distort the market and produce unforseen quirks.
According to the Association of Residential Lettings Agents (ARLA), there will be various new factors emerging: home owners who cannot sell will turn to renting their properties, knowing that rates are currently high. But this will go nowhere near saoking up the rising demand and will not cause prices to stabilise in 2011.
Meanwhile, renters will be forced to make do with less suitable property, depending on the area of the country they live in. Family homes are coming onto the rental market in many parts of England, because they cannot be sold, whereas in London, large family homes are at a premium and the supply is limited.
Central London residential rents have gone up by 19 per cent since mid-2009, with Knightsbridge and Mayfair seeing 20 per cent-plus rises. Overall London rents are now almost up to their pre-2008 level, as the effects of the credit crunch are gradually receding.
Original comment can be found at The Quick House Sale Advisory
According to the Association of Residential Lettings Agents (ARLA), there will be various new factors emerging: home owners who cannot sell will turn to renting their properties, knowing that rates are currently high. But this will go nowhere near saoking up the rising demand and will not cause prices to stabilise in 2011.
Meanwhile, renters will be forced to make do with less suitable property, depending on the area of the country they live in. Family homes are coming onto the rental market in many parts of England, because they cannot be sold, whereas in London, large family homes are at a premium and the supply is limited.
Central London residential rents have gone up by 19 per cent since mid-2009, with Knightsbridge and Mayfair seeing 20 per cent-plus rises. Overall London rents are now almost up to their pre-2008 level, as the effects of the credit crunch are gradually receding.
Original comment can be found at The Quick House Sale Advisory
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