Last year, when a general excess in the supply of to let property, caused rents to struggle.

Now, increasing borrowing difficulties faced by first-time buyers and a scarcity of properties for sale in many regions is encouraging a return to renting as THE preferred alternative ... manufacturing a situation where demand is now starting to outstrip supply.

These are strange and challenging times in the property market.
In the last year we have seen the usually predictable fluctuation of prices rise to unprecedented levels - and we have then witnessed them stagnate and (said in a whisper) even start to fall in some areas.

We have seen interest rates incrementally and consecutively rise and we have been bombarded with new legislation introduced into the residential and buy-to-let markets, including home information packs, tenancy deposit protection and an expansion of mandatory landlord licensing.

In recent weeks, we have seen the cost to UK banks and building societies of an overindulgence in the US sub-prime market, causing even stalwart institutions to wobble on what have become unstable foundations.