The latest rentals market snapshot by the Royal Institution of Chartered Surveyors gives the now-familiar story of how demand is far outstripping supply.
The snapshot – which is basically a measure of surveyors’ sentiment – shows a net balance of 36 per cent of surveyors reporting an increase in tenant demand over the past month yet landlord instructions falling for the third month in a row. The result, of course, is rapidly rising rents.
However, perhaps more interesting is an insight into how lettings agents see the current market – and their comments, included in the RICS snapshot – ring alarm bells for the private rental sector.
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