INDUSTRY NEWS

Rental property market ‘staying strong’

The professional rentals market remains strong despite concerns of a wider downturn in the property market, according to new research.

Almost half – 44 per cent – of brokers canvassed in a new survey said that they would continue to acquire properties and felt that there were more returns to be made in the lettings market.

Four in ten believed that yields would rise this year, while 94 per cent of intermediaries expected tenant demand to either remain static or rise.

Andy McQueen, managing director of The Mortgage Works, said that while the "current climate is not ideal", there were still "excellent opportunities" in a cooling market.

The news could offer some respite for those concerned at the wider trends within the property market, with both residential and commercial sectors experiencing a slowdown in growth.

However, the trend is less pronounced in area such as London, where the demand for office space and the continuing influx of investors, means the market has higher demand.

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