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High demand for rental property

Created on 22/12/2010 @ 13:00
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Auctioneers are reporting a big demand for rented property across the area. 

At a time when traditionally the property market quietens down McCartneys Newtown office finds itself pleasantly surprised with the level of demand still being shown in private rented accommodation.

Partner in charge of the Newtown branch, Tom Carter, believes that there are two main reasons for this continued demand:

"On a local level there are still large numbers of people wanting to purchase property yet find themselves unable to do so at present. This may be a result of having insufficient deposit funds or the inability to obtain a mortgage in the current economic climate.

"Regardless, these people still need a roof over their head and so predominantly resort to renting," he said.

"On a wider scale, Mid Wales has always been a hotspot for those looking to move from larger towns and cities within the UK for a change of scenery and lfestyle and in attempt to experience the good life.

"Prime examples are of people selling up in the Midlands or South East, but before purchasing a property in Mid Wales they will often rent for a period in order get a feel for a particular area before committing to buying."

"The demand from locals is generally for town and village property in Welshpool, Newtown and the surrounding villages. Demand from the wider market tends to be for the larger, country properties."

"We have let all manner of property this year for our landlord clients, from one bedroom flats to large, five bedroom barn conversions in the countryside. Rents being achieved have ranged from around £300 per month to well in excess of £1,000 per month depending on the property type and location."

"I believe that this trend will continue throughout 2011 with strong demand from both locals and those moving into the area," added Mr Carter."

McCartneys offer both tenant finding and management services. If you have a property that you would consider letting out, please feel free to contact Tom on 07855 834 282 or or the McCartneys office on 01686 623 123

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