September 2, 2011
Increase of LHA tenants now becoming private renters
The last quarterly rental survey conducted by the Royal Institute Of Chartered Surveyors shows that 13% of new letting tenants are people receiving housing benefit. The statistic has risen from 8% from the previous quarter, and currently stands at a record high since RICS began the study twelve years ago.
Rents rose and the increased demand outmatched supply as more tenants turned to the private market. There seems to be no let up in the demand which suggests that rents will continue to soar.
The survey only saw a slight increase in the number of new landlords.
James Scott- Lee of RICS said “The combination of strong tenant demand and a limited stock of good quality properties on offer is pushing rents ever higher across much of the country. This is the case both for houses and flats
