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Thursday, January 06, 2011

Landlords confident on rents

Over 40% of landlords plan to increase the rent they charge to their tenants during the next 12 month according to the latest research conducted by buy-to-let mortgage broker the Paragon Group.

Only 4% plan a rental reduction over the next 12 months.

The confidence in the rental market stems from the fact that some 45% of landlords believe that tenant demand will continue to increase over the year.

Commenting on these figures Nigel Terrington, Chief Executive at Paragon said:

"Tenant demand has risen faster than supply during 2010 and that is expected to continue well into 2011.
"This is reflected in landlords' expectations of future levels of tenant demand and also the rent they are planning to charge for their properties.
"There continues to be a lack of finance available in the UK mortgage market, meaning that many potential buyers are opting to rent instead."

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