Tenant demand rises while landlords await to hear on rental reform

RICS UK Residential Market Survey for lettings shows nearly a third (28%) of agents reported seeing an increase in tenant demand in the three months to January although new landlord instructions were also down – that imbalance between supply and demand is expected to drive rental prices higher over the coming months.

There has been much speculation over the long-awaited Renters (Reform) Bill and whether it will become law in 2024 and before the general election. There have been several delays to the Bill which is currently being debated in the House of Commons. It will need to undergo similar scrutiny in the House of Lords before it can finally become law.

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