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.