A shrinking pool of rental properties continued to drive up rents last month, despite reduced demand from tenants
Letting agents have reported that institutional and portfolio landlords are moving in to buy stock from exiting landlords.
Surveyors are the latest group to report a cooling rental market in the UK, with a slowing in demand among tenants for the first time since 2020.
RICS survey predicts growing shortage of rental properties. Demand is predicted to grow while supply declines.
Landlords listing their properties for sale before potential capital gains tax rises are adding to a widening divide between supply and demand, report letting agents from around the UK.
An ongoing shortage of rental properties is expected to keep pushing rents higher as more landlords look to scale back their portfolios.
Frustrated surveyors have urged the government to introduce fair legislation that increases supply as landlords continue to quit the sector.
