Demand for rented accommodation in May has boomed 41% year on year according to new data from estate agent Your Move.

The firm revealed tenant demand increased month on month as well, with the number of leases commencing in May 2008 rising 14% from April.

Your Move said May’s increase in demand is part of a wider trend, as the number of leases commencing in April was 56% higher than the year before. The number of leases commencing in 2008 in total is up 34% on the same period in 2007.

David Newnes, managing director of Your Move estate agents, said: “Buy to let will grow this year. Opportunities to invest are ripe for professional landlords able to secure financing. With rising tenant demand comes rising rents - buy-to-let yields will consequently improve. House prices are under pressure at the moment, and there is scope for buy-to-let investors with collateral to get good deals to expand their portfolios.”

Taken From : [1] http://db.riskwaters.com/public/showPage.html?page=800846

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