Floods 'increase demand for rented accommodation'
Posted on September 14th 2007
The demand for rented housing could have increased over the last few months because of floods, according to a report.
Increased demand from tenants has been because property prices are prohibitive for first-time buyers and they are hoping for a cool-down in the market before making their move, Anne Ashworth wrote for the Times Online.
Reports from organisations such as the Royal Institution for Chartered Engineers (Rics) have revealed that there have been small price falls in the West Midlands, the North West and East Anglia, while there are small increases in other regions.
Recently home insurance companies in the UK banded together under the banner of ClimateWise to address issues around climate change and home insurance policies.
Membership includes global insurers, reinsurers and brokers, according to a report in the Guardian.
In related news, in New Orleans, people renting properties after Hurricane Katrina are paying more than they did before the floods, according to blog.nola.com.