London and south-east in demand for rented accommodation

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by Kay Murchie

Landlords in London and the south-east are benefiting from huge demand for rented accommodation according to the National Landlords’ Association (NLA).

A vast amount of young professionals are swarming into these areas but cannot afford to buy a property. This group of people is looking for rented accommodation which is clearly benefiting buy-to-let investors.

Simon Gordon of NLA said there is demand for accommodation, especially in London and the south-east. Currently, there are young professionals who can’t afford to get on the property ladder, so they are looking to the private rental sector.

Mr Gordon added that there is growth in the number of young professionals who are being churned out by universities. If you expand the number of universities and the number of students, you will have an increasing amount of people leaving to go and live in other towns and cities and they will need accommodation. The private rental sector soaks up a great number of young professionals.

Dennis Reed of Moneygate recently said that the buy-to-let sector looks set to benefit further with predictions of up to 15% growth over the next 12 months.

Furthermore, The Association of Residential Lettings Agents said it has recently been announced that UK landlords are already charging extortionate rents following the growing demand for rented accommodation.