31st
Aug 2015
A nationwide lettings agent claims that landlords are on average keeping their rental homes for seventeen years; this is a five years increase since 2007.
They are also saying, taken from their recent research, that besides the slowing down of owners selling their properties, there is an ever widening gap between landlords and private individuals buying homes.
The research has just been released this month,( August) that together with its monthly lettings index they show that landlords who had sold a property had been in possession of it for an average of seventeen years, whereas with homeowners the average ownership was fourteen years.
The research director of the lettings agent, Johnny Morris, said: “As landlords trade less often than homeowners, the growth of the private rented sector weighs down on the number of housing transactions.”
He also guesstimated that if the private rented sector boom since 2008 had not occured, then there would have been an extra 100,000 property sales.
The lettings agent also said that there had been an average 4.6% increase in rents during July, whereas the previous month experienced a 3.8% increase.
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