Residential Market Survey predicts rent increases over next five years
By |Published On: 11th October 2019|

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Residential Market Survey predicts rent increases over next five years

By |Published On: 11th October 2019|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

The latest report from the Royal Institution for Chartered Surveyors (RICS) indicates that tenants face an acceleration in rent increases over the next five years. This is thought to be a result of the demand for private rented housing outstripping supply.

This is according to new figures published in the September 2019: UK Residential Market Survey.

The report states that the latest results for the lettings market indicate:

  • Demand from prospective tenants will rise firmly for the eighth month in a row.
  • Landlord instructions remain in decline
  • With demand still outstripping supply, rent expectations remain positive for the next three months
  • Rental growth of approximately 2% has been predicted over the coming twelve months
  • Rental growth is expected to average around 3% per annum through to 2024

David Smith, Policy Director for the Residential Landlords Association, has responded: “Today’s figures demonstrate what we have long predicted, namely that because of recent tax hikes on the sector and threats to remove Section 21 repossessions without putting proper alternatives into place, landlords are not investing in new homes to rent, leading to demand outstripping supply. This only serves to hurt tenants as they face less choice and higher rents.

“Given how clear the evidence is the Government urgently needs to change course, and end those tax measures which are choking off investment in new homes to rent.”

The latest edition of The DPS Rent Index shows that average monthly rents in the UK have increased by 0.91% between July and September, which supports this prediction from the RICS.

The RICS’ September 2019: UK Residential Market Survey can be viewed here:

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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