The number of tenants in severe arrears of two months or more fell considerably in the last quarter of 2012 to 86,000, the lowest level since the fourth quarter of 2011.
However, the level of tenants facing court order evictions rose during quarter three of last year. A total of 25,756 tenants faced the grim prospect of eviction, reflecting a 5.5 per cent quarterly rise.
Annually, the number of rental eviction notices increased by 0.25 per cent from 2011.
Demand for rental accommodation significantly over the past couple of years as a result of continued tough conditions in the housing and mortgage market.
A lack of competitive rates and high loan-to-value mortgage deals has alienated many prospective buyers, particularly those buying for the first-time, from purchasing homes.
David Brown, commercial director of LSL Property Services who conducted the research, said: “Thankfully strong tenant demand and yields are tempting more people to invest in the sector and existing landlords to expand their portfolios.
“But investors should place financial suitability of any prospective tenant high up their agenda when letting a property
Loading ...