RICS Report on the Rental Market

The Royal Institute of Chartered Surveyors have reported that rents increased in every region of the UK in the 3 months to April.

Increases in London and the South East are the greatest, where prices continued to accelerate at a greater rate than in other UK regions.

The RICS report has found that 42% more chartered surveyors saw rents increase than those surveyors who recorded a drop.

The higher rents are fuelled by a buying arena that now requires high deposits by mortgage lenders and the unaffordability of any available finance. Renting for most is the only option.

From the survey, 35% of surveyors reported more renters, with the biggest increases being seen in the Midlands and Wales.