Private landlords may be interested to read that current housing sales are being bolstered by the renting market.

Firstrung, a company that specialises in housing solutions for first-time buyers, has commented on recent speculation that the housing market is recovering.

Paul Holmes, chief executive officer at the company, has claimed the notion that the housing market is stabilising is "utter madness".

Mr Holmes explained that the figures have been distorted due to the increasing instances of panic selling from people with high-end properties.

In fact, the only area in which a high volume of sales occurring is a range of properties worth £50,000 and below, Mr Holmes noted.

He said: "The only true sales that are happening in any vast numbers are in properties [worth] £50,000 and below in various areas of the north where you can buy a property …and may be able to rent it out for £300 a month, so the figures work."

Both Nationwide and Rightmove have released figures recently that suggest an increase in house prices. According to Nationwide, house prices increased by 1.3 per cent in July compared to the previous month.

Written by Claire DoyleADNFCR-2002-ID-19291544-ADNFCR

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