Tenant demand hits two-year high
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.”