Belvoir, the lettings chain, is opening three new offices, in Chichester, Newcastle and Glasgow. It brings the total number of Belvoir franchises to 146.
Mike Goddard, founder of Belvoir, said: “The current economic crisis and falling residential sales market means there are now more landlords and tenants in the UK than ever before.”
The number of properties available for rent on Rightmove, which claims to covers three-quarters of the letting agent market, has soared by 60% over the last year, from 171,000 to nearly 284,000.
As ‘relucant landlords’ have entered the market, unable to sell, the number of high-specification homes available to rent has reached saturation point in many areas, forcing rents down by as much as 20%.
Flood of luxury homes available to rent – at a bargain
15 December 2008
Comments
Lettings is definitely the way forward. The only problem is, it pays peanuts unless you are doing very high volumes. And with every agent now offering lettings the pie is getting carved up into smaller and smaller pieces.