02 September 2009
'Fewer people' becoming landlords because they cannot sell properties
There has been a reduction in the number of people who are becoming landlords because they are unable to sell their properties, it has been claimed.
According to the Association of Residential Letting Agents (Arla), the UK has seen a fall in the rental properties coming on to the market because they cannot be sold.
The markets in London and the south-east are showing particularly optimistic signs, the association suggested, with 72.5 and 78 per cent of offices in the respective areas citing a decrease in so-called "reluctant landlords".
Operations manager at Arla Ian Potter said: "Many sellers were left with little option other than to rent their properties out earlier in the year but this trend seems to be slowly diminishing."
Established in 1981, Arla is the professional and regulatory body for letting agents operating in the UK. It claims to have around 3,500 member offices around Britain.