Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
RICS Survey Highlights Growing Tenant Demand and Rent Pressure
Rents are facing renewed upward pressure as tenant demand grows and landlord instructions remain in negative territory, according to the latest RICS survey.
In August, the net balance for tenant demand stood at +18%, while landlord instructions came in at -14%. The survey also found that +44% of respondents are forecasting rent rises over the next three months.
These findings indicate a tightening rental market, with more tenants seeking properties and fewer new instructions from landlords. This trend is relevant for UK letting agents and inventory clerks, as it may impact rental pricing, property availability, and workload in the coming months.
Source: Property118