Countrywide report suggests rental will outstrip home sales

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According to a recent study by Countrywide, September 2016 saw record activity in the rental market, with increasing numbers of lets agreed and tenants choosing to renew their contracts. Based upon this and data for the months leading up to it, 2017 may be the first time since the 1930s that more homes are let than sold.  

This is the view of Rufus Ballaster who leads Carter Lemon Camerons LLP’s property team. He commented: “Germany has a far higher proportion of property renters than the UK and has no aspiration to raise the property ownership statistics in the county.  Nevertheless, it enjoys good-quality affordable housing stock.”

He added: “Liquidity is a huge issue with property as an asset class and a market in which those with capital invest in a property which will attract rental demand, and a workforce happy to go to where jobs are available partly out of confidence that they (with family where applicable) will find a happy home to rent near to that work, is a good market, not a problem one, in which you are sad because you do not ‘own a home’.”

Source: The Business Magazine
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