Tenant demand up for the fifth consecutive quarter, according to RICS

Tenant demand up for the fifth consecutive quarter, according to RICS


Todays other news


Tenant demand for private rental property has risen for the fifth consecutive quarter according to the latest market snapshot from the Royal Institution of Chartered Surveyors. 

The RICS surveys look at the balance of surveyors’ opinions, and it says a net balance of 52 per cent of respondents noted a rise in the past three months. 

When viewed at the regional level, all parts of the UK saw a firm pick-up in tenant enquiries over the quarter. 

London – where the rental market has been in the doldrums for much of the pandemic period – has now reported two consecutive quarterly increases as the economy in
the capital slowly begins to reopen. 

At the same time, landlord instructions remain in decline, with the latest national net balance slipping to minus 20 per cent from a figure of minus six per cent previously. 

 

On the back of this supply and demand mismatch, RICS says rents are expected to rise over the next three months by a net balance of 50 per cent of contributors. 

In London, a net balance of 47 per cent of respondents now foresee rents increasing over the near term, marking a significant turnaround on the net balance of minus three per cent posted in the three months to April, the previous quarter.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Demand is roughly static but instructions from landlords are falling...
Two amendments are being put to the Renters Rights Bill...
David Smith Weill be answering agents' questions...
There was also an Outstanding Contribution award...
The Welsh Government is backing the call for a 'compensation'...
There will be a greater emphasis on digitisation....
A consultation document is being released today....
Recommended for you
Latest Features
Andrews Property Group is under charitable ownership...
New tenancies in England and Wales are at their lowest...
The Scottish system would differ from the UK system in...
Sponsored Content
Tenants want a place they can call home—somewhere comfortable, safe,...
Letting agencies face the dual challenge of keeping both landlords...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here