Is Bristol the new Sheffield?

This is an interesting piece of research that came into my inbox this morning.  This seems to bear out the evidence that we are seeing.  Less property more tenants.  Are we heading for a serious property shortage and if so what can be done about it?

Belvoir Sheffield reveal 23% of chartered surveyors reported a fall rather than a rise in the number of new landlord instructions in the second quarter, up from 18% in the previous quarter, indicating that tenant demand could increase to aberrant levels.

Rick Flay, Director at Belvoir Sheffield, said:

“Here at Belvoir Sheffield we are seeing proof that tenant demand is certainly increasing, to the point where we are seeking out new properties in Sheffield and the surrounding areas.

“We are urgently looking for one and two bedroom flats in Sheffield, along with one and two bed terraced houses in the S1, S2, S3, S7, S8, S10 and S11 postcodes, after a significant increase in tenant enquiries.”

With critics pinpointing the sudden upturn in the housing market as a large factor, many accidental landlords have been tempted away from the lettings market.

First time buyers unable to get a foot on the property ladder are still a major source of increasing demand for good rental properties, with houses remaining more popular than flats, causing a supply/demand imbalance which is also helping to increase rental expectations

Most Bristol agents will tell you that there is a continuing shortage of new properties as the Buy to Let market while not dead is certainly is on life support and it appears that Sheffield is the same.  What do you think.  Your comments are welcome

Comments:

Are banks making it easier to obtain Buy to Let mortgages?D Moloney May 27th 2010 11:35:36