Supply shortage could push rents up 15% says Rics

Rents could rise 15% by 2023 as the supply of new rental properties dries up, according to a survey by the Royal Institution of Chartered Surveyors. It said small scale landlords are pulling out of the market due to tax changes brought in last year which have made buy-to-let investments less profitable. The proportion of lettings agents reporting falling instructions outweighed those who said they were getting more properties to rent by a margin of 22% – the weakest outlook in the survey’s near-20 year history.

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Posted 09/08/2018