Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from firstname.lastname@example.org. Be Scamsmart.
New tenants are benefitting as rents continue to be pushed even lower across the residential lettings sector, it has been revealed.
With would-be-sellers unable to find buyers for their properties, the supply of homes to the rental market continues to grow, the Royal Institution of Chartered Surveyors said.
In the final three months of last year, the number of surveyors that reported a rise in rents compared with a fall dropped to the lowest level ever recorded.
The number predicting a further fall in rents was also at unprecedented levels.
"The marketplace has become more and more competitive as reluctant landlords continue to look to let properties they are unable to sell," said RICS spokesperson Jeremy Leaf. "With property sales at historical lows, the rental market will continue to boom - provided unemployment levels do not increase significantly."
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.