The latest lettings market snapshot from the Royal Institution of Chartered Surveyors predicts more rent rises over the rest of the year. 

The RICS survey measures sentiment amongst agents and surveyors, and for June it says: “In the lettings sector, tenant demand strengthened once again in May, returning a net balance of +22%, the highest since September 2024. 

“At the same time, landlord instructions continue to dwindle, with -34% reporting a drop. 

“As a result, rents are expected to rise further in the near term, with the net balance for rental growth expectations jumping to +43%.”

On the sales sideRICS says sentiment remains subdued, but buyer demand and sales activity have steadied, while near-term expectations are less negative.

House prices are broadly unchanged as market settles into a flatter trend this summer.

The 12-month outlook for both sales and prices is positive, with survey respondents expecting a rise in activity and modest price growth over the year ahead.

RICS senior economist Tarrant Parsons says: “Sentiment across the UK residential property market remains somewhat subdued, with ongoing uncertainty around global trade policies and the dampening effect of transactions being brought forward ahead of the Stamp Duty changes at the end of March continuing to weigh on buyer activity. 

“However, near-term sales expectations are showing signs of stabilisation, suggesting that while muted conditions may persist in the short term, a further deterioration appears unlikely. 

“Looking ahead, the outlook is more optimistic, with respondents anticipating a gradual recovery in sales activity over the next 12 months. 

“That said, the pace and extent of any improvement will partly depend on the Bank of England’s ability to continue cutting interest rates.”