According to the latest Royal Institution of Chartered Surveyors (RICS) UK residential market survey for October, the housing market continues to strengthen, although the gap between the supply of properties available for let and rising tenant demand continues to expand. This mismatch between supply and demand is expected to drive rents higher over the coming three months.
In response, Tom Bill, head of UK residential research at Knight Frank, said “Tenants may end up bearing the brunt of the government’s Renters Rights Bill if more landlords decide to sell up, which would put upwards pressure on rents. Interventions in the housing market have a well-established track record of unintended consequences and this piece of legislation may prove to be no exception.”
