Supply Shortage Could Push Rents Up 15%

Rents could rise 15% by 2023 as the supply of new rental properties dries up, according to a survey by the Royal Institution of Chartered Surveyors (RICS). It said small scale landlords are pulling out of the market. It blamed tax changes brought in last year which have made Buy-To-Let investments less profitable. RICS said it was time that the government looked again at the way the private rented sector was regulated. It said its members have seen the supply of new rental property falling consistently for two years. Meanwhile, the majority of its members are seeing steady increases in the number of people looking to rent, although the numbers are levelling off. Read more on the BBC website.

https://www.bbc.co.uk/news/business-45113867