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14th Dec 2018 UK Residential Lettings Market Survey: November 2018

The Royal Institution of Chartered Surveyors (RICS) lettings survey report across the UK is consistent with our own findings locally.

They comment:

‘In the lettings market, the latest numbers (which form part of a non-seasonally adjusted series) are indicative of demand from prospective tenants holding broadly steady for the second month running. Alongside this, the new landlord instructions series remained entrenched in negative territory (net balance of -14%) signalling a decline in the supply of fresh rental stock coming on to the market. As a result of these dynamics, rents are expected to rise modestly over both the three and twelve month horizons.

Further out, rental growth is expected to outpace that of prices; on average, rents are expected to rise by 3.1% per annum over the next five years, whilst price growth projections stand at 2.3% on the same basis’.

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