A reduced supply of rental property and the increased demand of tenants is starting to see rental prices increase according to the RICS residential lettings survey published today.

Following on from our article in January demand for City Centre apartments remains very strong with void periods now all but non existent and recent University application numbers suggesting a stronger market than ever this summer. "The shortage in supply is being compounded by reluctant landlords selling-up and exiting the market now that house sales are slowly starting to pick-up. We are also finding that unlike recent years there is a shortage of new rental property coming onto the market as the lending criteria is now so tough that there are very few new  landlords entering the field " commented Jonathan Detheridge  from GO Property Services.

Tenants are advised to look early and choose quickly if they see something they really like.

See the full RICS Residential Lettings Survey here

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