Now the election is out of the way the path is set for new and existing Landlords to invest in property to rent. With the tinkering of the private rental sector as promised by Labour no longer a threat Landlords will continue to invest and potential tenants will be secure in the knowledge that good quality lets will continue to be available.
In addition a lot of people aged 20-45 (57%) are forgoing making savings for a house, and are instead looking at renting. This is also reflected in the fact that homeownership is at its lowest level in 29 years, especially among young people, and this number may continue to decrease in the coming years.
This isn’t necessarily a bad thing – but a positive reflection of the trend of wanting to rent. It is seen as a secure option, but still allows ‘serious’ renters to live in a house they can essentially call their own. There is no reason to see this trend changing any time soon. If government does what it has promised and builds much needed housing some of these will become available to new tenants. More and more people will be looking to rent, which means that landlords will face no shortage of tenants to choose between when it comes to letting their property.
Martin & Co is a lettings specialist operating from 282 offices around the UK. If you would like any information on how we find you the best tenants for your property, please contact your local office in Weymouth and ask to speak to Angela, Laura or Phil