Surveyors witness increase in number of prospective renters of UK housing

Rental demand for residential property in the UK is increasing as house sales start to pick up, according to the RICS.

The body has reported that 12% more chartered surveyors have seen a rise rather than a fall in the number of people looking to rent.

A spokesman for the RICS said: “The number of properties coming onto the rental market has slowed as the sales market has begun to stabilise. This is good news for landlords, who were coming under pressure to reduce rents as a result of oversupply.

“The need to respond in this way is easing and providing the housing market holds firm, the outlook for the rental market should continue to improve.”