The latest sentiment survey from the Royal Institution of Chartered Surveyors suggests a drop in landlord activity across the UK.

RICS does not offer a precise index but instead measures markets by surveyors’ personal judgments.

So it says new rental instructions fell during December, with a net balance of -12 per cent of respondents seeing a decline.

However +15 per cent of surveyors saw tenant demand pick up and consequently predict rental growth for the next three months strengthening slightly.

Yet again the notable exception is London where -47 per cent of those surveyed anticipate rents to fall in the next three months.

RICS chief executive Simon Rubinsohn says that although the housing market remains open for business, there’s a sense that the current lockdown will reduce transaction activity over the coming months.

“Private rents are envisaged to outprice price gain as supply continues to fall short of demand, with anecdotal reports of landlords exiting the market” he says.