Families Fuelling Demand In The Rental Market

Renting is no longer just associated with young people and professionals with more and more families fuelling demand in the rental sector.

WMP Group's sales director Daniel Cox described how it has been typical in previous years for individuals and couples to make up the bulk of demand for rented accomodation, yet more recently there has been a marked increase in adults with children looking to rent.

"More families are looking to rent now than ever," he commented, suggesting that as a result, houses are starting to prove more popular than flats.

Mr Cox continued to explain how a four or five-member family "is not going to fit into a two-bedroom flat", so trend conscious landlords are looking to invest more in 2 or 3-bed properties.

These comments come following a recent report from LSL Property Services that revealed rent increases slowed to their lowest rate in 8 months in October. In England and Wales the average rental payment increased by just 0.2 per cent to £720 per month.

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