View more on these topics

Rents pushed up by lack of supply

The lettings market saw a sharp upturn during the first quarter as a shortage of homes pushed rents higher, says the Royal Institution of Chartered Surveyors.

RICS says 30% of its members reported a rise rather than a fall in rents during the three months to April, up from a net balance of zero for the previous three months and compared to an all-time low of 58% reporting falls in rent in April last year.

Some 12% more surveyors reported a fall rather than a rise in the number of new landlord instructions in Q1.

A spokesman for RICS says that with sellers returning to the housing market, lettings supply has fallen back.

He says: “This is good news for landlords as rents are set to move higher in the coming months and yield returns are likely to improve.

“The news that buy-to-let specialists are beginning to lend again may also encourage investors to return to the market.”

Surveyors are now predicting that rents will continue to rise with the rental expectations net balance climbing to 36% – the highest figure since 1998.

Recommended

Dump HIPs but the buying process still needs modernising

The home buying process in this country needs modernising. HIPs were an attempt to do this, and would have been a success, if a survey had been included. Buying property is the largest single purchase anyone makes in their life yet many go into it with their eyes closed. Potential buyers would benefit from user-friendly […]

C&G unveils two-year tracker from 0.49%

Cheltenham & Gloucester has launched a two-year tracker at 0.01% below the Bank of England base rate, available at 85% and 90% LTV. This rate only lasts until December 31 2010, at which point it jumps to base rate plus 5.49% until July 31 2012.

Contributors should have the courage of their convictions

I’d like to enquire why so many contributors send letters to Mortgage Strategy and put ’name and address supplied’? There are quite a few people with this unusual name. If you feel strongly about a subject why hide behind anonymity? This smacks of shouting from behind the bike shed and ducking when the teachers turn […]

Bank lending remains subdued in April

Net mortgage lending grew by only £1.8bn in April compared with £2.3bn in March, and was below the previous six month average, figures from the British Bankers Association show today.

Newsletter

News and expert analysis straight to your inbox

Sign up