A lack of available properties to let is making prospective tenants make decisions quicker and the most sought after buy to let properties in the current market are one and two bedroom apartments and three bedroom houses, according to the lettings department at Townends Estate Agents.

The company, which is part of the Badger Holdings Group, says that despite a slightly slow start to 2010 due to the inclement weather, January has proved to be a very busy month throughout all its branches.

In some, applicant levels have doubled in comparison to December 2009 and there has been a significant increase in the number of prospective tenants arranging viewings, making offers and re-confirming their requirements. Year on year, overall demand is up in excess of 30 percent.

Caroline Kavanagh, Group Lettings Director for Badger Holdings comments, “The demand for property has certainly outweighed supply in January with a lack of new properties coming to the surface to meet this increased demand.

“In some respects this has its advantages in that tenants are making decisions more swiftly after viewing a property. Previously is wasn’t abnormal for prospective tenants to see up to 10 properties before making a decision, but with fewer options in the market pushing prices up, people are more eager to commit before running the risk of missing out on a property.

“The most sought after properties at the moment are one and two bedroom apartments and three bedroom houses. In the last month we have seen prices in some locations rise by as much as 8 percent, especially in the London areas.

“I think the market feels refreshed after the Christmas break and I see no signs of the improving sales market affecting tenant levels which should result in a very lucrative lettings market in 2010.”