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Rents increase in July, says Rics
01/09/10
Edited by Christian Dailly.The Royal Institution of Chartered Surveyors (Rics) has indicated that the average rent in the UK increased in July.
Research by the group showed that 27 per cent more surveyors reported a rise in rents on the lettings market than reported a drop, compared to 12 months ago when the figure was in reverse.
Some 26 per cent of respondents also claimed that they witnessed a rise in the demand for residential property, suggesting that there was a shortage of properties available to potential tenants during the month.
James Scott-Lee, a spokesman for Rics, said: "Supply of lettings property continued to fall in the three months to July, although at the slowest pace in a year which ... helped propel rents higher for the second consecutive quarter."
The National Landlords Association recently said that a strong demand for rented property was good for the industry, but remained concerned about government policy over capital gains tax and cuts to the Local Housing Allowance.
