The overall the total lease commencement for 2008 is some 34 per cent higher compared to the same period in 2007.
This is a direct result of the credit crunch and the difficulty young buyers currently face in getting onto the property ladder.
Managing director of Your Move estate agents, David Newnes, comments: "The credit crunch has buried any chances most first-time buyers might have had of getting on the property ladder."
With tenant demand rising the potential for buy-to-let is increasing. Investors with cash to spare are now in a position to capitalise on lower prices and the potential for higher yields.
Newnes comments: "Opportunities to invest are ripe for professional landlords able to secure financing. "With rising tenant demand comes rising rents - buy-to-let yields will consequently improve."
"House prices are under pressure at the moment, and there's scope for buy-to-let investors with collateral to get good deals to expand their portfolios."
