Letting demand 'on the increase'

Posted: 09 Jun 2011 09:56:59 GMT

The cost of homes for rent is on the increase, it has been found.

An increase in individuals looking for homes for rent is driving up the amount landlords are charging, newly-released research has found.

According to the Royal Institution of Chartered Surveyors (Rics) Residential Lettings Survey, a swell in tenant demand has led to the situation whereby leases got more expensive in the three-month period to April.

Some 42 per cent more surveyors reported a rise in rents than a fall during this time period, while many properties have now become unattainable for some groups because of the hike.

London, the Midlands, the south-east and the north are the areas where expectations for rental prices are at the highest.

Rics spokesman James Scott-Lee said: "Many potential homeowners are still restricted from getting a foot on the property ladder, leading to increased demand in an already oversubscribed rental market."

Independent property expert Malcolm Harrison recently stated there is a widespread dependency on the rental market in the UK.
 

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