The Royal Institution of Chartered Surveyors published its latest Residential Lettings Survey on 1st December and it makes encouraging reading for buy to let property landlords with a rental property seeking a tenant. The RICS reckon that rents have been rising for the three months to the end of October.
39% more surveyors say rents are increasing compared to 27% who say they are falling. There seems to be a shortage of rental property on the market and demand is being driven by the difficulty people are facing in finding a mortgage to buy their own house. London was the area showing the greatest increase in rents.
As for the future; 34% more surveyors expect rents to go up rather than down.
Does this tally with the experience of actual property landlords? Let us know what the market is doing in your area.
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