Belvoir sees demand for rental properties increase
Lettings agency franchise Belvoir has seen the demand for rental properties soar as the credit crunch leaves more people unable to borrow sufficient funds to get a mortgage. As a result Belvoir franchisees have experienced record-breaking figures reporting a monthly growth of at least 30 per cent on 2007's figures.
Belvoir founder and CEO Mike Goddard (pictured above) says: 'Belvoir's March and April figures reveal a huge increase on 2007. Figures for April 2008 were 36 per cent higher and May shows in the region of 30 per cent growth, dispelling any myths that the lettings market is depressed.
'Feedback from Belvoir franchisees nationwide confirms a huge increase in activity. Owners who are unable to sell properties are choosing to rent them out instead. This is creating a massive head of steam in the rental market.
'The demand for good quality rental properties is growing and apart from some city centres where there is over-supply this is putting upwards pressure on rents. Over the next few months we should see more landlords returning to the market as they realise they can achieve excellent rental yields for properties.'