Rental demand 'still outstripping supply'

Posted: 01 Sep 2011 11:50:18 GMT

The three months to July saw tenant demand still outpacing supply.

Rental demand in the UK continues to outpace supply, with increasing numbers turning their attention to the rental sector.

According to the latest Royal Institute of Chartered Surveyors (Rics) Residential Lettings Survey, 34 per cent more surveyors recorded a climb in rents as opposed to a dip.

The findings also suggested the imbalance between demand and supply is likely to continue as further rent gains are anticipated in the coming months.

James Scott-Lee, spokesman at Rics - which has around 100,000 qualified members and more than 50,000 trainees and students in 140 countries - said: "The combination of strong tenant demand and a limited stock of good quality properties on offer is pushing rents ever higher across much of the country."

The industry figure explained this pattern is being seen for both houses and flats and - due to the limited availability of mortgage finance for first-time buyers - is likely to continue for the foreseeable future.
 

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