09.08.201800:34:00UTC+00UK Property Rents To Rise 15% Over Next 5 Years: RICS

UK rentals are expected to increase 15 percent over the next five years on weaker supply, according to a survey by the Royal Institution of Chartered Surveyors.

Over the coming twelve months, an increase of about 2 percent in rentals is expected. Respondents observed that small landlords are quitting the rental sector due to tax changes.

The risk ... is that a reduced pipeline of supply will gradually feed through into higher rents, RICS Chief Economist Simon Rubinsohn said.

The house price balance rose to +4 percent in July, in line with expectations.