Rics: Rents set to rise next year

News Category: Industry News

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Letting agents and landlords have been given encouraging news by Rics, which has announced it believes rents will rise in the new year.

Its forecast is based on the fact that the third quarter of 2009 saw a drop in the number of rental properties coming into the market for the first time since January 2008.

Tenant demand remains strongest in London, but also increased across the rest of the UK, with the exception of the east of England.

Jeremy Leaf, a Rics spokesman, said: "It seems the current upward trend in the housing market is having a more significant effect on the lettings market, with many of the accidental landlords returning to the sales market."

Last week, a survey by estate agents Knights Frank predicted that the student lettings market will continue to be a growth area for landlords.

It estimated that student rents will rise by five per cent in the next academic year.

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