Property market unbalance for tenth month in a row

Property market unbalance for tenth month in a row, says RICS

The Royal Institute for Chartered Surveyors (RICS) believe that landlords clamouring to beat the stamp duty increase caused a surge in new buyer enquiries in January.

The Royal Institute for Chartered Surveyors (RICS) believe that landlords clamouring to beat the stamp duty increase caused a surge in new buyer enquiries in January.

According to the RICS Residential Market Survey, the rise was the tenth such increase in a row, with the number of homes coming on to the market failing to meet the demands of both prospective landlords, and residential buyers.

This ongoing cycle of demand outstripping supply is contributing to the surging house prices, and is making it even harder for many buyers to afford a property when one becomes available.

With this in mind, it is no surprise that the same survey found that as people’s ability to buy decreased over the past three months, demand on the rental market showed an upturn, with more interest from potential tenants reported across the UK.

The Urban.co.uk Tenant Survey 2016 reports how UK tenants feel about their ability to get on the property ladder.

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