2017 ‘could be the first time since 1930s that rentals outperform sales’
Over the past few years, rental properties have become more and more popular, with more people looking to rent than ever before, thanks to the convenience and the ease of doing so rather than buying a home.
Johnny Morris, research director at Countrywide, recently said: ‘ The shift between the number of properties being offered for rent and sale has been a long-term trend, boosted a bit by stamp duty and a bit by the Brexit vote. As some would-be buyers and sellers sit on their hands, Brexit-induced uncertainty has continued to boost the rental market. September saw record activity, with increasing numbers of lets agreed and tenants choosing to renew their contracts. 2017 could be the first time since the 1930s that more homes are let than sold.’
At West we have certainly seen this preference towards renting. More than ever, we now see people choosing to live in the rental sector; the convenience, fixed monthly cost and high standard of rental properties mean more people are becoming long-term tenants. We still have incredibly high demand for rental properties in Argyll and Lochaber, so if you have a property and are thinking of letting, please get in touch.