'Brighter future' for letting property

Posted: 06 Jul 2009 15:02:03 GMT

Letting property could be easier in the coming months.

Speaking to the Financial Times, Simon Rubinsohn, chief economist for the Royal Institution of Chartered Surveyors (Rics), notes that the majority of surveyors have seen rents fall recently.

This is a shift from the start of the year, when the majority were still seeing rental increases when letting property.

However, the news is not all bad for landlords.

Rics spokesperson Jeremy Leaf explains that more activity in the property for sale market is helping to reverse a trend which saw the rental property market become flooded with available homes.

Coupled with this, he notes that demand from tenants remains strong, providing further "good news" for landlords.

In June, the number of letting agents who saw activity levels increase outweighed those reporting a fall in new letting instructions, according to Rics figures.

Following a balance between the two figures of 42 per cent in the previous report, the June Rics Lettings Survey placed the barometer figure at the lower - but still positive - level of 16 per cent.

© Houseladder Ltd