House prices & rental values on the rise…
House prices and rental values are expected to rise across most of the UK over the next three months, based on the latest RICS sentiment survey. All surveyors in the North and West Midlands thought rents would rise over the next 3 months. Confidence for house price growth is highest in Yorkshire & The Humber, North West and London.
Expectations of house price growth have risen despite the interest rate rise in December, as stock levels remain close to historic lows. The continued imbalance in supply and demand is also the driving force behind rental growth. National 12 month rental growth projections now stand at 4.5%.
Source: Dataloft, RICS (net balance score is calculated by the proportion of survey respondents reporting a rise minus those reporting a fall in the given indicator)
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