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More undersold homes join the rental market

As the glut of unsold homes across the UK continues to increase we are seeing more and more properties placed into the rental market until such time as they can be sold. This massive increase in properties available for rent has resulted in great pressure on rental yields and pushed rental income lower and lower. This has the potential to become a serious problem for many buy to let owners as they rely on their rental income for their mortgages and their expenses.

As the UK property market still appears to be some way off recovery there is concern that many more homes will be transferred to the rental market in the short to medium term. This would place yet more pressure on this particular sector which until now had been assumed by many to be fairly bomb proof.

Everybody in the property market is waiting for the first sign of light at the end of the tunnel but as yet it has not appeared. The longer this situation drags on the more chance that property prices will continue to drift lower and lower although the significant fall in the strength of sterling could in due course see a whole host of overseas investors move into the UK market.

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