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Buy-to-let market sees rise in tenant demand

31 May 2005
The buy-to-let market has witnessed an increase in tenant demand for properties, according to a new survey.

The latest lettings survey from the Royal Institution for Chartered Surveyors (RICS) found that more people are choosing to rent as prospective buyers await a more stable period for the housing market.

Just over a fifth (21 per cent) more surveyors report a rise in tenant demand according to the latest survey, compared with 14 per cent in the previous quarter.

Flats are faring particularly well, seeing the largest demand increase in two years, the survey found.

"Continuing healthy tenant demand means existing landlords are holding firm," said James Leaf, RICS spokesperson.

Surveyors also continue to expect moderate rental increases, with 14 per cent expecting rents to rise in the next three months.

Investors have seen a rise in rental returns for the first time since 2000 as a result of increased rents alongside stable house prices, the survey revealed.

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