Rents rise in all UK regions

In this quick speed read we look at the demand for rental property and the impact this is having on rental prices

All regions in the UK saw an annual increase in monthly rent in July. The South West experienced the biggest increase (12.9%), followed by Wales (11.8%) and the East Midlands (10.8%).
According to the RICS residential survey, tenant demand rose for a fifth straight quarter, with a current net balance of +52% of respondents reporting an increase in demand.
Landlord instructions remain in decline, with a net balance of -20%, the fourth consecutive quarter with a negative reading.
The imbalance between supply and demand has put upward pressure on prices and rents are expected to increase by 3% over the next year.
Source: Dataloft, HomeLet, RICS

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