There is no doubt that the sales market is challenging however in contrast to this the rental market is booming! New instructions have increased significantly as we see 'would-be' sellers place their property on the market with us both to sell and to let.
There has also been an increase in tenants as many potential buyers have been forced to rent because mortgage finance has become more difficult to obtain. Equally we have seen the number of landlords wishing to sell their property at the end of the tenants lease fall. These Landlords have decided to remain committed to the rental market rather than try and sell in the current climate. All of these groups are helping to fuel this mini-boom.
As a consequence of all of these factors the uptake of our Northwood guaranteed rental income scheme where we guarantee the rent to the Landlord even when the property is vacant has never been greater. It's a great time to be a letting agent