Demand for rented accommodation soared in December, according to lettings agent Your Move.
"In 2008 the lettings market was the only good apple in a bad cart," explains David Newnes, managing director of Your Move.
"House prices were falling, no-one could get a mortgage, economic data was abysmal. The mortgage market is still choked but the drop in lending has boosted the lettings market."
"People are actively choosing to rent as it offers flexibility in this market. House prices are still under pressure - potential buyers are biding their time in short term lets while they eye the market from a safe distance."
Newnes continues: "The credit crunch has scuppered first time buyers' chances of getting onto the property ladder. But the silver lining in this mess, is that landlords are seeing demand go through the roof."IFAonline
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