Lack of confidence keeps buyers away
IT has been a busy few months for the lettings division of Blundells in Sheffield and North Derbyshire.
Blundells director, Peter Lee, says: “There is still a lot of uncertainty in the economy and the job market and this, combined with the lack of available finance for buyers, has resulted in many people turning to rental properties.
“The difference now is that some renters are simply people who would buy if they could afford to or had more confidence in the market. People have decided that renting is safer. In addition, people sometimes prefer renting. It can be convenient for young professionals whose job may not be located in the same place long-term.”