RICS survey shows boom in letting
Lettings have soared as sales of residential property have fallen,
the latest Royal Institution of Chartered Surveyors (RICS) survey
rep has indicated.
The RICS July poll found that a number of indicators for growth in
lettings have shown a rise in activity since the previous
Examples include 43 per cent more surveyors reporting a rise than a
fall in the number of new landlord instructions, compared with 30
per cent in the previous quarter.
In addition to this, 37 per cent more recorded an increase than a
drop in new tenancies, this figure also up from a figure of 30 per
cent in the first three months of the year.
The number of landlords planning to sell up when current leases
expire was just 2.1 per cent, the lowest figure RICS has ever
RICS spokesperson James Scott-Lee said: "Becoming a landlord is now
an increasingly profitable option with rising rents and yields
offering good returns."
Last week the Times reported choose one instance of the Times
reported that London still has a deficit of supply for rental
properties, leading to an average rental figure of £3,000 a
month according to Association of Residential Lettings Agents
figures, at the weekend.