RICS Residential Lettings Survey
July 2010
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- Tenant demand increases at broadly similar pace while instructions decline at slowest pace in 12 months
- Rental growth rises for second consecutive quarter at a marginally slower pace
- Yields improve for the second consecutive quarter and at the fastest pace since back end of 2008
The latest RICS Residential Lettings Survey for the three months to July showed that tenant demand continued to increase, and at broadly the same pace as the previous quarter.
26% more surveyors reported a rise in demand for property than a fall; this was marginally down from the last period when 30% reported a rise. Demand for houses increased at a slightly faster pace than last quarter, while demand for flats increased but at a slower pace.
Surveyors report that new landlord instructions declined for the fourth consecutive quarter, but it is evident the pace of decline is moderating. The net balance, while remaining negative, edged upwards from -12 in the three months to April to -6 in the run up to July.
New instructions for houses are declining at the slowest pace in 12 months as the net balance approaches zero. Instructions for flats declined at a slower pace also; 9% more surveyors report a fall in instructions than a rise. This is a mild improvement on the last quarter’s result of -12.
Pages in RICS Residential Lettings Survey
- 1. You are here July 2010
- 2. April 2010
- 3. January 2010
- 4. October 2009
- 5. Contribute to the Residential Lettings Survey
