Number of new tenants surge 20% in a month

Friday 1st July 2011

The number of new tenants’ registering for rental accommodation through the Countrywide agency chain increased by 20% in May, compared with April.

It was also a 28% increase compared to May 2010.

While the sales side of Countrywide showed a 10% decrease in sales agreed in May, the number of properties available to rent rose by 14% in May compared with April, and was an 18% increase on May 2010.

Chief executive Grenville Turner said that one trend was for more home owners to dual market their property, both for rent and for sale.

He said that the sales market continues to be constrained by lack of mortgage funding.

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