THE boss of a York estate agency has spoken out about the turmoil in the city's rental market with both renters and landlords caught in the crossfire.

Matt Hendry, managing director of Naish Estate Agents, said he has had renters breaking down in tears in the firms offices in High Petergate and says his team is seeing total desperation in the rental market.

He says they are getting between 50 and 60 enquiries per property as soon as they go up online and there is a 'total sense of panic'.

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"On average between ten and 20 people walk into our branch every day asking for rentals, we're having many people who do not currently live in York, calling us and asking if they can reserve a rental property without seeing it - something we never do - and many are even living abroad," said Matt.

"After four hours of a rental property going live online, we're having to close the viewing slots."

York Press: Matt HendryMatt Hendry (Image: Naish)

He said the market is seeing rents go up by as much as £300 a month as landlords, coming to the end of mortgage terms where they might have been paying two per cent interest, now facing the prospect of six or seven per cent interest on new mortgage deals.

This means landlords losing between £300-£400 a month on mortgages and unable to increase rents part way through an existing rental agreement, and many landlords in the city don't just have one property.

"People like to complain about landlords and investors, but now many are choosing to sell, and the lack of rental property available coupled with the newly homeless renters whose landlords have been forced to sell, is creating a war in the rental market," said Matt.

"Renters are trying to tie down properties by offering to pay landlords upfront, often with between six months and a ears rent.

"This sense of urgency is obviously helping out of pocket buy-to-let landlords subject to increased interest rates, but is having a hugely negative effect on young people looking to move out for the first time."

Naish Estate Agents, is a residential sales and lettings business in High Petergate, and traces its trading roots as far back as 1939.

As The Press reported back in August, James Naish, who took over the business from his late father Nigel in 2005, has taken a step back from the agency to concentrate on other interests, but remains a minority shareholder, with Matt working as managing director.

York Press: Matt and James outside the agency in AugustMatt and James outside the agency in August (Image: Naish)