Residential Lettings - The New Normal
The time has come round once again to get out that bottle of ‘Windolene’ and spruce up your investment property. Entering 2011 is likely to prove more exciting than just the start of a new decade. Great Britain is moving into the turbulent waters of a new economic climate where even the economists admit that their own crystal balls have gone a bit hazy - a new era which The Economist has labelled 'the new normal'.
For the letting industry, the effects have been predominantly positive so far. Renting has become established as an acceptable form of tenure. As Housing Minister John Healey pointed out just last month, home ownership has fallen from 71 percent of households in 2003, to 68 percent today, a trend that began in 2005 well before the recession set in. It was stated that we were moving towards a European trend with renting on a similar footing to buying.
