28
Jan
Private rental sector 'vital to support housing market'
The private rental sector is vitally important in terms of
supporting the housing demands of residents in the UK, it has been
asserted.
A spokesperson for the National Approved Letting Scheme explained
that private landlords have filled the gap left by the right to buy
initiative.
"Without the private rental sector, without buy-to-let investments
and without private sector leasing schemes [from] local
authorities, there would be a very, very serious housing crisis,"
the representative stated.
He also noted that people in the UK are beginning to change their
attitude towards renting, preferring the flexibility it offers
rather than being tied down by purchasing a house.
According to research carried out by the Association of Residential
Lettings Agents (ARLA), during the final three months of 2009, 41
per cent of its members reported that they had more tenants on
their books than properties available.
This figure increased dramatically compared with the third quarter
of last year, when just 24 per cent of ARLA members claimed to have
more tenants than rental options.