Less available places to rent could see prices rise ‘by at least 25%’, report says
In a new report, the lack of a new rental house supply in the UK can see that prices have increased by 25 percent in the next three months.
According to the researchers, the flow of fresh rental properties released comes because it fell at the fastest rate in five years.
The Royal Surveyors Institute (RICS) saw that surveyors have seen new instructions that their landlords have fallen instead of rising, which has been the weakest reading since April 2020.
The report is expected to continue to increase with less rental property on the pipeline with a 25 percent net balance in the next three months.
According to the report, he added that they have a “solid negative tendency ındaki in their homeowners.
In the report, when the sales market was examined, the new home receiver questions returned in July.
6 percent of property professionals reported that the new buyer questions fell instead of rising in July, which showed the softening of the demand compared to the previous month.
In June, a clear balance of 4 percent of professionals had an increase in the new investigations of buyers.
The report stated that the relatively weak demand trends reported in Doğu Anglia, South East and South West of England and the results in different areas are increasingly variable.
Sales fell in July, and 16 percent of professionals fell clearly, and in June they worsened from the 4 percent balance, which draws attention to the sales falling.
When we look forward, those who participate in the survey are waiting to see little change in sales in the next few months and a more positive look for 12 months. 8 percent of professionals are waiting to see a welcome in sales next year.
A 9 percent of the survey participants saw an increase in the flow of new property lists released in July.
The latest questionnaire also pointed out that 13 percent of professionals pointed to a small downward direction in housing prices with a balance that saw that prices have fallen.
This is compared with a 7 percent balance that sees that the price has fallen both in May and June.
The report, in contradiction with a wider tendency, continues to typically rise in prices in Northern Ireland and Scotland, while professionals in the northwest of England see that prices are increasing.
RICS, at the other end of the spectrum, prices have fallen more significant than the national average in Eastern Anglia.
RICS Chief economist Simon Rubinsohn said: “A slightly more flat ton to the feedback to the July Rics Housing Study, emphasizing the difficulties faced by the housing market. Although the latest interest rates were reduced at the British meeting, the divided vote, the timing of more discounts and the scope of more discounts and scope.
“In the meantime, the uncertainty about the potential content of the autumn budget of the chancellor increases some concerns. Against these floors, the participants continue to report that the market is currently sensitive to the price.”
Personal Finance President Sarah Coles, Hargreaves Lansdown said: “In July, the green recovery shoots that the agents were fed in July was dry with a slight decrease in the sales and housing prices. The market always remains silent in summer holidays, but this is even more deadly than Nispial.”
“We are now in a buyer market, so there is a real chance to make a bargain. For anyone who is attractive to dive into emergency savings to increase their budgets, this chance of grouping.”
Coles said: “The tenant’s demand remained stable, yet it means more people chasing less house, and the illegal rental period is not over yet.
“HL (Hargreaves Lansdown) Savings and flexibility barometer show that this is incredibly difficult on everyone – therefore the average rental household is only 62 at the end of the month. However, for the tenants who finish £ 24 for the tenants who live on their own.
“When the money is so tight, it is incredibly difficult to meet your costs for a property deposit. However, if you cannot build anything, there is a risk of locking into the increasing rent cycle.
“This means worth considering all your options. This may include everything to return home for a while, making great concessions about the place you live in. Also, there are options that do not require any of these sacrifices, such as asking for help from the family or giving a support to your deposit throughout Jesus for life.”
Knight Frank’s Housing Research President Tom Bill said, “The housing market is hitting a series of obstacles this year. April’s stamp tax is the first and now buyers and sellers are increasingly restless with the re -making of the ‘Guess to the Spring Tax’ game last year.
“This month, our interest rate has been cut off, but it has been priced and the wider economic mood remains fragile. The supply still remains more than demands, which also occupies the prices.”
On Wednesday, the financial information website Moneyfacts said that the average two -year fixed interest rate mortgage on the market fell below 5 percent for the first time before the so -called mini budget of former Prime Minister Liz Truss in September 2022.
Moneyfacts, on Wednesday, the average two -year fixed host mortgage rate is 4.99 percent, he said. This fell from 5.00 percent of the previous working day.
Jeremy Leaf, a North London real estate agent, said, “Accepted sales are mostly supported by mortgage rates and a stable employment environment.” He said.
In the Lettings sector, Mr. Leaf said: ık We realized that the demand had fallen for last month, especially for two -bed apartments in the old buildings, he was more interested in modern, lower care features. ”
