Insurance News Archive

Buy to let insurance policyholders 'see rents rising again'

Posted by Jonathan Walker

Outstripped supply is pushing rents higher, a further indication of a revival in the private lettings market, according to new findings published today.

The latest figures from the Royal Institution of Chartered Surveyors (RICS) have shown that the proportion of members noting a rise in rent amounts increased from zero to 30 per cent in the first quarter.

Jeremy Leaf, a spokesperson for RICS, explained that with sellers returning to the housing market, supply has fallen back in the lettings sector.

He said: "This is good news for landlords as rents are set to move higher in the coming months and yield returns are likely to improve."

Mr Leaf added that as buy to let specialists start lending again, more investors may be encouraged into the private rental sector.

One of the UK's largest letting agent networks, LSL Property Services, recently claimed that landlords could soon be receiving record amounts of rent after average monthly rates rose to £663 in April.

25 May 2010