Published: 13/08/2021All regions in the UK saw an annual increase in monthly rent in July. The South West experienced the biggest increase (12.9%), followed by Wales (11.8%) and the East Midlands (10.8%).
According to the RICS residential survey, tenant demand rose for a fifth straight quarter, with a current net balance of +52% of respondents reporting an increase in demand.
Landlord instructions remain in decline, with a net balance of -20%, the fourth consecutive quarter with a negative reading.
The imbalance between supply and demand has put upward pressure on prices and rents are expected to increase by 3% over the next year.
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#willmotts #propertyexperts #estateagents #lettingagent #charteredsurveyors #willmotts1856 #guildproperty #dataloft #proudguildmember #propertymarket #tenants #landlords #propertysales #residentialproperty | Source: Dataloft, HomeLet, RICS