13
Dec
Rental demand 'set to grow in 2008'
The UK rental sector can expect to see good growth throughout 2008
and will remain a strong market, it has been claimed.
Chris Horne, editor of Property Hawk, has suggested that
speculation over house prices is likely to discourage first-time
buyers from buying in early 2008, allowing the rental market to
remain strong.
There have been some claims that the property market could be set
to crash in 2008, but while that would eventually let first-time
buyers to enter the market, Mr Horne pointed out that most would
want to wait until the market had bottomed-out before getting a
foot onto the property ladder.
He explained: "If anything, the uncertainty with house prices will
put off potential first-time buyers - on the basis that they could,
potentially, buy a house cheaper later on.
Mr Horne concluded: "I think rental demand will be growing and
strong into 2008, as people sit back and wait to see what happens
with the market."
Statistics from the Council of Mortgage Lenders have revealed that
in October this year the average first-time buyer age was 29, as
young people struggle to get a foothold on the property
ladder.
