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Add PropertyRental supply worsening and rents set to rise, warns RICS
The latest RICS UK Residential Property Survey, out today, shows demand lagging in the private rental sector.
There was only marginal growth reported by surveyors responding to the study.
On the other hand landlord instructions, which is to say landlords making property available for rent, continued to reduce.
So despite demand recording broadly flat activity, further reductions in availability continues to increase the gap between supply and demand.Unsurprisingly, a net balance of +23% surveyors believe that rents will continue to rise over the next three months as a result of this imbalance.
In the sales market, the new buyer enquiries indicator returned a net balance of zero, which means that interest in home buying neither increased nor decreased.
Agreed sales were up by a net balance of +3%, which is very marginal in terms of growth.
Read the full article at Letting Agent Today
