Pain is expected for the renting majority in Britain as the Royal Institution of Chartered Surveyors (RICS) residential market survey breaks new records
Rents will continue to rise as more people enter the rental market with fewer properties to choose from, the professional body for surveyors has said.
Demand for rental properties rose"firmly" over the three months to July, according to research from property professionals, the Royal Institution of Chartered Surveyors , marking the strongest quarterly pick up in demand since the start of last year. At the same time, most surveyors said instructions from landlords further decreased, resulting in an imbalance of demand and supply.
The majority of the surveyor respondents to the RICS residential market survey expect rents to go up again in the coming three months.Please use Chrome browser for a more accessible video playerTenant demand hadRents are now reaching an affordability"tipping point" with no sign of them reducing any time soon, one respondent said.
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