29
Jun
A rise in demand for property 'will see rents going up'
Landlords who rent out property to tenants could gain a good profit
on their investment after an expert suggested rental prices are
likely to rise.
Chief executive of online lettings agent Upad.co.uk James Davis
said that as a lot of young people leave university with
substantial debts, they cannot afford to raise deposits and get on
the property ladder.
He stated that more people are turning to renting as they put off
buying houses, which will lead to an increase in demand for
properties to let.
Mr Davis commented: "Because there is a lack of housing stock to
rent out and more people [are] being forced into that space …
I can see rent going up ten per cent over the next 12
months."
His comments come after a report by mortgage lender Kensington
revealed that 7.98 million people in the UK currently live in
rented accommodation and 68 per cent of those surveyed said they
thought demand for private rented houses will rise over the next
five years.