According to the latest residential lettings survey from the Royal Institution of Chartered Surveyors in the UK residential landlords there are likely to see the rental market pick up in the coming months.
The survey revealed that because of a fall in the supply of new properties coming onto the marketing for the second quarter in a row and a sizeable decline in supply of both apartments and houses to rent in the marketplace there is now an increased demand for rental property.
Because of these factors a rise in rent rates now seems inevitable, as supply cannot meet the demand and 33% of respondents to survey supported this theory as they believe that rent rants will begin to rise over the coming quarter. This rise will finally bring an end to the downward trend in rents rates that have been around in the UK since 2008.
