{"id":5857,"date":"2017-09-14T15:49:53","date_gmt":"2017-09-14T15:49:53","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5857"},"modified":"2017-09-14T15:49:53","modified_gmt":"2017-09-14T15:49:53","slug":"surveyors-predict-rising-rents","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/surveyors-predict-rising-rents\/","title":{"rendered":"Surveyors predict rising rents"},"content":{"rendered":"

The Royal Institute of Chartered Surveyors <\/span>members are<\/span> predicting that many landlords will pull out of the UK housing market in the next 12 months due to policy changes.<\/span><\/p>\n

Nearly two-thirds of surveyors <\/span>interviewed<\/span> by RICS believed that more landlords would exit the market than join it in the coming year.<\/span><\/p>\n

\n

\u201cThe number of landlords exiting the market due to recent policy changes is concerning, especially given house price rises,\u201d commented <\/span>Paul <\/span>Bagust<\/span><\/a>, RICS UK Commercial Property Director. \u201cA functioning private rented sector is crucial to a healthy housing market and it\u2019s predicted that over 20% of all households will be PRS by 2020.\u201d<\/span><\/p>\n<\/blockquote>\n

However, RICS is predicting that private rent rises are likely to outpace house prices due to the recent policy changes \u2013 including the stamp duty surcharge. Landlords now face a 3% stamp duty surcharge levied on all newly purchased investment properties. They also face a gradual loss of tax relief on mortgage interest payments.<\/span><\/p>\n

\u201cThe sector is extremely diverse, including many one home landlords,\u201d continued <\/span>Baghurst<\/span>. \u201cRICS is part of a sector wide collaboration developing a revised industry-led PRS Code of Practice, to raise standards for both consumers and landlords, bring clarity to those already in the market on various policy measures, and encourage landlords back into a professionalised market.\u201d<\/span><\/p>\n

Given the likely resulting supply and demand mismatch in the rental market area respondents predicted that, over the next five years, rental growth will outpace that of house prices, averaging 3%, per annum (against 2% for house price inflation).<\/span><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

The Royal Institute of Chartered Surveyors members are predicting that many landlords will pull out of the UK housing market in the next 12 months due to policy changes. Nearly two-thirds of surveyors interviewed by RICS believed that more landlords would exit the market than join it in the coming year. \u201cThe number of landlords… Read more »<\/a><\/p>\n","protected":false},"author":1955,"featured_media":4336,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-5857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-housing-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/5857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1955"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=5857"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/5857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4336"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=5857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=5857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=5857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}