Royal Institution of Chartered Surveyors

Royal Institution of Chartered Surveyors

The Royal Institution of Chartered Surveyors is once again reporting a decline in the stock of rental properties.

RICS says this has now been an ongoing theme over much of the last three years.

This study out today shows a net balance of 29 per cent of contributors report a fall in landlord instructions in November, the net balance in October was 21 per cent.

Tenant demand has remained steady at the national level and rents are expected to rise modestly in the coming three months.

Letting agents consulted by the RICS have indicated a forecast of rent rises equivalent to two per cent over the coming 12 months.

Over the next five years rental growth projections stand at more than three per cent per annum - this is outstripping sale prices which are seen rising by around 2.5 per cent annually.


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