RICS residential lettings survey

Citation

(2009), "RICS residential lettings survey", Structural Survey, Vol. 27 No. 5. https://doi.org/10.1108/ss.2009.11027eab.016

RICS residential lettings survey

Article Type: Newsbriefs From: Structural Survey, Volume 27, Issue 5

Keywords: Lettings, Residential Property, Trends

Residential rents in the UK have dropped across the residential lettings sector but rental expectations suggest the trend is set to moderate. The net balance of chartered surveyors reporting falls rather than rises in rents fell from 48 per cent to 55 per cent, the lowest level since 1999. The change has been most marked in Scotland where 80 per cent more chartered surveyors reported a fall than a rise in rents, down from 58 per cent. Meanwhile in London, the rental market for houses continued to favour tenants. A net 85 per cent of surveyors reported a fall rather than a rise in rents for houses in London down from 71 per cent. Significantly, surveyors are reporting that gross property yields are now falling for the first time since April 2007, indicating that rents are declining at a more rapid pace than house prices.