Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
RICS Reports Ongoing Pressure in UK Rental Market as Supply Falls
The latest Royal Institution of Chartered Surveyors (RICS) housing market snapshot states that the lettings sector “remains under pressure.” According to the RICS sentiment index for May, tenant demand increased, with a net balance of +14% of survey contributors reporting a rise.
At the same time, landlord instructions continued to decline, with a net balance of -28%. This data highlights ongoing challenges for letting agents and inventory clerks, as demand from tenants grows while available rental properties decrease.
Source: Landlord Today