Increased tenant demand and low supply pushed rents higher in the three months to April, says the latest RICS Residential Lettings Survey.
Although rents increased across Great Britain, it was London and the South-East where there were the most notable increases.
Comments from surveyors reveal that rents in some areas have now risen so sharply that previously affordable homes are now unattainable to many, as an increasing number of renters are priced out of the market.
The survey also found that fewer landlords are selling their properties at the end of a tenancy.
The RICS believes that the outlook for the rental market remains strong.
RICS spokesperson James Scott-Lee said: “There has been a small uplift in supply, but the imbalance between demand and availability can only mean rents will continue to rise.”
Meanwhile, Cluttons agents predicted that rents in central London are on track to rise by between 8% and 10% this year.
.jpg)
.png)
Comments