The number of reluctant landlords has dropped for the third consecutive quarter, according to the Association of Residential Lettings Agents (ARLA).
ARLA’s research shows that 60% of its members’ offices reported property being rented out rather than sold during Q3 2009. This number has dropped from 80% in Q2 and 95% in Q1.
The association says these figures suggest that fewer homeowners are struggling to sell their property and being forced to rent it out, supporting industry-wide speculation that the housing market downturn is coming to an end.
48% of members in Prime Central London reported rental property coming onto the market because it cannot be sold, compared with 73% last quarter.
Ian Potter, operations manager of ARLA, said: “The fact that the number of reluctant landlords has dropped once again