The latest sentiment survey from the Royal Institution of Chartered Surveyors suggests that the market is strong – but off its peak of earlier this year.

The survey is a snapshot of submissions from 277 agents who are RICS members.

A net balance of 36 per cent said they were seeing an increase in tenant demand. “Although still firmly positive, this does seem to have lost a bit of momentum when compared with readings of 62 and 50 per cent net balance recorded in the three months to January and April 2022 respectively” says a statement from the organisation. 

On the supply front, a net balance of eight per cent of respondents noted a decline in new landlord instructions, identical to last quarter’s reading. 

RICS concludes: “Consequently, rents are expected to continue to climb higher over the near-term by a net balance of 57 per cent of survey participants, with all parts of the UK anticipated to see a further pick-up.”