A leading lettings agency is urging Wolverhampton’s prospective Landlords to cash in on a shortage of homes – after their list of properties for rent almost halved in the last 18 months.

Sally Lawson, of Lawson & Company, based in Chapel Ash, revealed the number of homes available had reduced from 120 in 2004 to a current 65 – at a time when Tenants are on the increase.

She said: “The number of Tenants has gone up by 50 per cent – properties are being rented out within hours.

“There has never been a better time to rent out your property or to invest in a buy to let property.”

Lawson & Company rents out properties across Wolverhampton and the surrounding area and says that its most urgent need is three-bedroom semis.

The move comes as property experts report that a recovery in the UK property market has led to an increase in the number of young people seeking rented accommodation.

Housing research and data company Hometrack has reported that there has been a fundamental change in the way people approach the market.

“First-time buyers are realising they won’t be able to buy until they are older,” said Sally.

“Figures show that almost half of the relevant population can’t afford to get a foot on the property ladder as a result of soaring house prices.

“The buy to let sector can really benefit from a recent recovery and a growing number of people are now choosing to invest in a property because of the prospect of strong rental yields.

Sally added: “Buy-To-Let Landlords will also be hoping for an interest rate cut in the coming months to give yet more fresh impetus to the market.”

*Latest figures show that Buy-To-Let property investors enjoyed a strong start to the year, with a rise in rental incomes and property values.

Demand for rented property continues to rise and Buy-To-Let Landlords are increasingly confident, reports Paragon Mortgages.

Issued by Linda Jones at Passionate Media (0870 990 1619) on behalf of Lawson & Company. For more information, please call Sally on 01902 428008.