Calls made for better rental market statistics

When people approach Oxford estate agents are usually looking to sell their house or in other cases they want to rent out their properties. According to one expert, those who fall into the latter category may be lacking sufficient information before embarking on renting out their property.

The National Statistician, whose role involves safeguarding the production and publication of high-quality official statistics within the UK, has suggested that housing market figures must be more accessible with key trends easier to identify.

Jill Matheson stated that official private rental statistics and a private rental price index should be developed for the UK. In her review, she also suggested that local area statistics should be made available.

Armed with more knowledge, consumers may have greater confidence when they are choosing whether to rent or sell their properties.

Commenting on the report, Ms Matheson said: “The housing market affects everyone in the UK in some way. Good quality statistics are essential for making informed decisions on housing, from central government planning to private individuals deciding whether to move, rent or buy.”

Over recent times, more people may have been considering approaching Oxford estate agents with a view to renting out their homes rather than selling them. After all, not everyone who potentially has houses for sale in Oxford is confident in achieving a decent price at present.

The UK’s property market has not fully regained its pre-credit crunch vigour, and many homes in Oxford and elsewhere may be harder to sell now than they were before the banking crisis.

It is not surprising therefore that a considerable number of individuals are choosing to hold onto their homes and rent them out, rather than put them on the market.

When people are unsure about which route to take, they can seek expert advice and assistance to make the decision less daunting.