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19 Dec 07 - Landlords Profit From Rising Rents
Landlords are benefiting from increased rents as more would-be
buyers continue to struggle to step on to the housing ladder,
new figures show.
According to the Royal Institution of Chartered Surveyors,
many potential buyers are becoming increasingly cautious
and are waiting to see how the market develops after the
recent credit crunch.
As a result, the Rics said that 31% more surveyors saw
a rise in rents than a fall in the third quarter, amid the
continued market uncertainty.
Rics spokesman Jeremy Leaf said: "With rents on the
increase, many would-be buyers will find accessing the housing
market even more difficult as they struggle to raise the
capital for that first important purchase.
"However, many landlords will take solace from uncertainty
in the economy and enjoy the gains from rising rents."
The Rics also said that the strongest areas for tenant
demand during the period were the south east and the east
of the country.
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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