Tenant demand increase expected in 2014

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Tenant demand increase expected in 2014

Over half of landlords in the UK expect tenant demand to increase in 2014, with four in 10 reporting growth in the last six months, a new survey shows.

Overall, 58% of landlords predict tenant demand will grow in the next 12 months and nearly a fifth expect to expand their portfolios in 2014, the latest landlord sentiment survey from LSL Property Services found.

In the past six months, 41% of the 2,195 landlords polled reported a rise in tenant demand, with just one in 16 seeing a fall. What’s the reason behind this? One answer is that the strong indication of a recovery in the housing market will result in increasing prices, leaving those wishing to get on the housing ladder or upsize their home being forced to rent.

Commenting on the survey results, Beth Barnham said: “Demand for rented accommodation is strong. Our figures for lettings, new viewings and applicants have been rising steadily and support the statistics from LSL Property Services. We predict these trends to continue in 2014.”