RICS Residential Lettings Survey
Q3 2009
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Shortage of new instructions bolsters rental outlook
- Tenant demand picks up speed but the new instructions net balance turns negative for the first time since the early partof 2008
- Downward pressure on rents appears to be easing with the forward looking rent expectations series moving smartly back into positive territory
- London is leading the turnaround in rental expectations followed by the North and the South East
Tenant demand for residential property picked up speed in the three months to October. A net balance of 16% more surveyors reported a rise in new tenant lettings over this period compared with 11% in the previous three months.
Within this aggregate figure, demand picked up particularly sharply for the renting of houses; the positive net balance in this sector of
the market jumped from 6% to 22%.
Meanwhile, the net balance of respondents recording a rise in demand for flats remained unchanged, albeit still in positive territory, at 12%. More significantly, the latest survey shows the new instructions net balance to have fallen for the first time since the early part of 2008.
Pages in RICS Residential Lettings Survey
- 1. You are here Q3 2009
- 2. Q2 2009
- 3. Q1 2009
- 4. Contribute to the Residential Lettings Survey
