Rents rising as demand strengthens
Tenant demand continued to exceed new instructions driving raising rents further in the three months to April, research from the Royal Institute of Chartered Surveyors reveal.
Around 13% more chartered surveyors reported rent rises rather than falls in the three months to April.
RICS said this growth was largely driven by increasing demand as a net balance of 15% more respondents reported rises in prospective tenants with houses in greater demand than flats.
Rental values in the UK have now grown consistently since 2009 as the problem of unaffordable mortgage finance and large deposits required by lenders remain a barrier to home ownership with many potential buyers forced to turn to the rental market.
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