Property Rentals to Outstrip Sales for First Time Since 1930s

Activity in the sales market has cooled since June’s Brexit vote and low supply and rising prices leads to more new lets than purchases. to lead to more new lets than purchases a lack of property for sale combined with rising prices are set. The UK’s largest estate agency chain, Countrywide, The property rental market is booming at the expense of the sales market  New property management manchester  . Costing more than £40,000 changed hands, in 2015 1.2m properties according to official figures. “As some would-be buyers and sellers sit on their hands, Brexit-induced uncertainty has continued to boost the rental market”, is what the director at HW Residential, Tim Haughton, said. 
for the first time in eight decades next year, as homebuyers face a continued struggle making it look as if house-buying will be outstripped to find properties they can afford. With increasing numbers of lets agreed September saw record activity, and tenants choosing to renew their contracts. On current trends, 2017 could be the first time since the 1930s that more homes are let than sold.”
Since the summer and borrowers having to find bigger deposits than in 2015, increasingly difficult for would-be buyers separate reports suggest that affording a new home is becoming, with asking prices rising. Although recent figures from mortgage lenders showed a pick-up in the number of loans homeownership levels had fallen to their lowest levels in 30 years at the start of 2016. Haughton said **ysis of the number of homes advertised for sale and for rent online showed that over the past five years rental activity in the mainstream was catching up and taken out for house purchases, the number of homes for sale remains near a record low and prices are rising