Rent levels 'rose for the fourth consecutive quarter' -
Rent levels rose for the fourth quarter in a row during the first three months of 2007, according to new figures.
The latest survey of the Association of Residential Letting Agents (ARLA) found that there is a shortage of properties and opportunities for buy-to-let investment throughout the private rented sector.
Void periods decreased to an average of 24 days, the study indicates.
Meanwhile, six out of ten agents in prime central London report that there are more tenants available than properties. In fact, across all of the south-east, ten per cent more agents say that demand is much higher than supply.
The study also revealed that tenants are continuing to stay in rental properties for longer than one year.
Adrian Turner, chief executive of ARLA, remarked: "There is a shortage of all forms of housing in this country and these results show that the shortage of good quality property is also apparent in the rented sector.
"Even though it still needs more investment, the private rented sector is continuing to provide choice in housing and a safety valve for the housing market, particularly now, at a time of mixed expectations for future strong rises in house prices."
ARLA was formed in 1981.
Landlords 'play a vital role in the housing market' -
Residential property investors "helped to save the private rented sectors", the Association of Residential Letting Agents (Arla) has claimed.
Adrian Turner, chief executive of Arla, credited landlords for giving people more choice in housing, which in turn helped prevent house prices from rising even further than they already have.
He cautioned investors not to be "misled" by the implication that they receive favourable tax treatment - a suggestion which has been levied against landlords in the past couple of weeks, as the Chartered Institute of Housing called for buy-to-let tax relief to be scrapped.
"We must ensure that investors are neither misled nor panicked as a result of ill-informed criticism of the sector," said Mr Turner.
"Also, it should be made perfectly clear that these investments are taxed on profit and capital gains in precisely the same way as any other investment or business."
Summarising the findings of the latest Arla quarterly review, he remarked that the average landlord is looking for long-term investment.
Some 42 per cent of investors have one or two properties which they let, while ten per cent own more than ten.
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