Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
RICS Survey Highlights Ongoing Rental Market Pressures
Landlords are facing renewed rent pressure as tenant demand increases and the supply of available rental homes remains constrained, according to the latest RICS UK Residential Market Survey for May.
The survey reports that tenant demand recorded a net balance of +14%. In contrast, landlord instructions stayed firmly negative at -28%, indicating a continued shortage of new rental properties coming onto the market.
Rent expectations have also strengthened, reaching a net balance of +36%. This is the highest reading since May of the previous year, according to the survey.
These findings highlight ongoing challenges for letting agents and inventory clerks, as the imbalance between rising tenant demand and limited rental property supply continues to put upward pressure on rents.
Source: Property118