Surveyors are the latest group to report a cooling rental market in the UK, with a slowing in demand among tenants for the first time since 2020.
RICS survey predicts growing shortage of rental properties. Demand is predicted to grow while supply declines.
Landlords listing their properties for sale before potential capital gains tax rises are adding to a widening divide between supply and demand, report letting agents from around the UK.
An ongoing shortage of rental properties is expected to keep pushing rents higher as more landlords look to scale back their portfolios.
Frustrated surveyors have urged the government to introduce fair legislation that increases supply as landlords continue to quit the sector.
A huge mismatch in the private rented sector has left tenants tackling ever-rising living costs and plummeting affordability levels.
Property surveyors across the UK have reported a slowdown in tenant demand along with continued levels of diminishing stock.
Signs that the Government’s assault on landlords coupled with higher mortgage costs are chasing more out of the market than usual have come from the Royal Institute of Chartered Surveyors (RICS) this morning.
