The variety of landlords trying to purchase properties has dropped, the UK Residential Survey from the Royal Establishment of Chartered Surveyors has discovered.
In August a web -37% noticed landlord directions fall, the steepest discount since April 2020.
As a consequence of this lack of recent rental provide, RICS predicted for rents to rise by round 3% over the subsequent yr.
Tarrant Parsons, head of market analysis and evaluation at RICS, stated: “With purchaser demand easing and agreed gross sales in decline, the housing market is clearly feeling the consequences of ongoing uncertainty.
“Issues over the broader financial and monetary outlook, mixed with questions across the future path of rates of interest amid stubbornly excessive inflation, are weighing on sentiment at the moment.”
The property market broadly had a quiet August, with each new purchaser demand and gross sales exercise falling, the UK Residential Survey from
The Royal Establishment of Chartered Surveyors has discovered.
A web -17% of RICS professionals noticed a discount in new purchaser enquiries in August, whereas a web -24% noticed gross sales exercise drop.
This was the second successive month that each metrics dropped.
