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Rental property demand goes on the increase

Rental properties in Wales are facing a much higher demand as landlords are choosing to put properties up for sale rather than continue to let them.

Surveyors in Cardiff have reported that the number of landlords choosing to sell has risen to 4.5% from a mere 1% in the last three months as many tenancies come to an end.

The Royal Institution of Chartered Surveyors (Rics) reports that the number of surveyors reporting a rise in rental rates increased by 26% in the past three months on record, sourced from the Residential Lettings Survey.

This means that there has been an increase of almost a third of the demand for rental properties over the three months from May to July from number of chartered surveyors reporting a rise in demand for rental properties.

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