Ten­ant de­mand hits two-year high

Yorkshire Post - Property - - PROPERTY -

TEN­ANT de­mand for pri­vate­lyrented prop­erty hit a two-year high dur­ing the fourth quar­ter of 2010, Paragon Group’s Pri­vate Rented Sec­tor (PRS) Trends re­port has re­vealed. The quar­terly snapshot of de­vel­op­ments in the PRS and buy-to-let mar­ket showed the pro­por­tion of land­lords re­port­ing grow­ing lev­els of ten­ant de­mand was at its high­est level since the fi­nal quar­ter of 2008.

Nigel Ter­ring­ton, Paragon Group chief ex­ec­u­tive, says: “Ten­ant de­mand shows no signs of slow­ing down and in some busy mar­kets, such as Lon­don, there is anec­do­tal ev­i­dence of sealed bids be­ing used for cer­tain prop­er­ties. This will be­come more com­mon­place across the UK un­less the PRS is able to ex­pand to meet higher lev­els of de­mand.”

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