Rental Accommodation Increases

Fri, 03 Mar 2006

Rents are going up as those looking for rental accommodation rises.

According to figures released today by the Royal Institution of Chartered Surveyors (Rics), there has been the biggest rise in tenant demand for four and a half years.

27% of surveyors report a rise in new lettings than saw a fall.

It is evident that the lettings market is getting busy. Increases in demand are satisfied by new properties available increasingly.

Buy to let investors are active once again, getting rid of any fears that an absence in first-time buyers going to contribute to a slowing down of the wider housing market next year.

Rents rose for all accommodation, with surveyors predicting slowdown in rental increases for larger properties.

RICs reveals most tenants in the UK are young adults, with two renters in three under 35 and a quarter under 25.

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