• According to the RICS (Royal Institution of Chartered Surveyors) Residential Market Survey, tenant demand is the highest it has been since the end of 2016.
• However, landlord instructions have fallen once again following a continuous decline since July 2016. A number of estate agents have noted landlords disposing of their properties owing to punitive regulations, with little new investment bringing fresh stock to the market.
• The increase in demand and decrease in supply has created a rental imbalance in the residential market, suggesting rising pressure for rental value growth.
• In July a headline net balance of 25% was reported, the most elevated reading in three years.