Rents are continuing to rise for tenants and more increases are expected in the coming months, a survey by the Royal Institute of Chartered Surveyors (RICS) has suggested.
About 42% more surveyors reported a rise in rents than those who saw a fall during the three months to the end of April, the RICS survey said.
Some 33% more surveyors expect rents to go up than those predicting a fall.
RICS spokesman James Scott-Lee says "Although we are beginning to see more mortgages aimed at first-time buyers, many potential homeowners are still restricted from getting a foot on the property ladder, leading to increased demand in an already oversubscribed rental market".
"There has been a small uplift in supply, but the imbalance between demand and availability can only mean rents will continue to rise."
First-time buyers
A separate survey, published last month, said that rental costs in England and Wales
“There is a distinct lack of first time buyers looking for property” says Mark Green, Chairman of imove Cornwall , the UK ’s first not for profit online estate agents based in Wadebridge and Truro
“Since the launch of our new service two weeks ago we have had many buyers register on our database, but not one first time buyer” says Green. “And that’s despite the fact that we are selling, what I think is a very, very cheap first time buyer property in St Dennis, near St Austell, for just £45,000”.
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