A new report reveals that the UK rental market is facing a significant shortage of fresh supply, leading to anticipated price increases of 25% over the next three months. Research from the Royal Institution of Surveyors indicates that 31% of surveyors reported falling new instructions from landlords, marking the weakest performance since April 2020. Despite the declining availability of rental properties, tenant demand remained steady for the three months ending in July. Concurrently, the housing sales market reflected a reduction in new buyer inquiries, indicating a softening demand compared to previous months.
The lack of fresh rental home supply in the UK could see prices rise over the next three months by 25 per cent, a new report has said.
Thirty-one per cent of surveyors saw new instructions from landlords falling rather than rising, which was the weakest reading since April 2020, according to the Royal Institution of Surveyors (Rics).
With less rental properties in the pipeline, prices are anticipated to continue to rise over the next three months by a net balance of 25 per cent, the report said.
Despite the firmly negative trend in landlords making their property available for rent, tenant demand held steady in the three months to July, the report added.
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