14 Mar

RICS: New landlord instructions weak

RICS: New landlord instructions weak

The level of new landlords instructing agents has fallen to its lowest level in 24 months, according to the Royal Institution of Chartered Surveyors (RICS).

Members have reported a ten per cent fall in landlord instructions since 2015 - largely because of changes in the mortgage interest tax relief rules.

However, demand from tenants is one the rise with a 15 per cent increase in RICS members reporting increased interest.

It is expected the number of new landlords is set to continue as investors are being put off by the reduction in mortgage interest tax relief that will come into play at the start of April.

RICS's predictions of rents remains positive with 24 per cent more members predicting a rise - with forecasts suggesting a 2.7 increase before the end of the year.ADNFCR-1222-ID-801833497-ADNFCR

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