This is the question being asked by many people, not least landlords who are thinking of letting their own home, or purchasing an investment property.

Stephen Goddard, Managing Director of A120 Lettings, says that the long term future for this industry is looking good. “The UK is following the rest of Europe in the trend of numbers of people deciding to rent their home rather than tie themselves down with a mortgage.”

In the 1990s, only 7% of UK households were rented out privately. By the start of the new millennium this figure had increased by nearly 50% to a total of 12% - and all the indications are that this will continue to grow.

Changing lifestyles and attitudes will affect the way that young, mobile, professional couples, for example, will make decisions on where they want to live, and how they want to spend their hard earned income.

“As long as you look upon letting property as a long term investment, you should reap dividends on your bricks and mortar asset”, he adds.