Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
RICS Reports Ongoing Pressure in UK Lettings Market
The Royal Institution of Chartered Surveyors (RICS) has stated that the UK lettings sector “remains under pressure,” according to its latest housing market snapshot.
RICS’ sentiment index for May shows tenant demand increased, with a net balance of +14% of survey contributors reporting a rise. In contrast, landlord instructions stayed negative at -28%.
These findings highlight ongoing challenges for letting agents and inventory clerks, as demand from tenants continues to outpace the supply of new landlord instructions.
Source: Letting Agent Today