First-timers forced into rental market
NEW tenant demand in Yorkshire and Humberside outpaced supply of rental property during the three months to July, as many continued to turn to the lettings sector, says the latest RICS Residential Lettings Survey.
One of the main drivers of demand in the region continues to be would-be buyers who have moved to the rental market after struggling to find mortgage finance and first-time buyers unable to meet lenders’ deposit requirements.
A RICS spokesman Jonathan Charters-Reid says: “First-time buyers simply cannot get on the housing ladder.
“In most parts of the Yorkshire region a typical two-up two-down terrace is over £120,000.”