High prices put increasing demand on landlords

16-Mar-2005

Landlords are being forced to increase their property portfolios to stay competitive in the market as an increasing number of people are choosing to rent, according to new figures.

The survey shows that there has been a rise in the average size in landlords' portfolios for the third consecutive quarter, as many people are putting off buying their own homes because of high prices and uncertainty in the market.

In the last nine months many portfolios have grown by 15 per cent, with potential first time buyers unwilling to splash out on properties, preferring to wait in case the market continues to cool and house prices see further falls.

The fact that people are less willing to get tied into buying property at present is of enormous benefit to landlords and almost 25 per cent believe demand for rented property is growing.

That figure compares with just 19 per cent last quarter and just under 21 per cent two quarters ago, revealing that the cooling property market has had an impact on first time buyers by making them think twice before investing.

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