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Rents set to rise as lettings stock not keeping pace with demand – RICS
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Original Source: Letting Agent Today.
Original Author: Graham Norwood.
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Tenant demand edged up in the three months to January, according to RICS, but landlord instructions have fallen back – suggesting rent rises are on the way.
The latest Royal Institution of Chartered Surveyors’ market snapshot shows a significant imbalance between demand and supply.
An exception to the rule is London, where RICS says most surveyors responding to its research suggested rents were still dipping.
RICS says rents are expected to stay roughly static in the South East but are set to move higher elsewhere.
“Lack of inventory on agents’ books continues to provide a major challenge with the number of valuations being undertaken not suggestive of a pick-up in new supply anytime soon” explains Simon Rubinsohn, RICS chief economist.
