Pressure on UK renters is expected to worsen.

Stay informed with free updates

Sign up for myFT Digest in the UK and get it delivered straight to your inbox.

Britain's rental market is facing growing challenges due to rising demand and tight supply, according to a closely-examined survey that points to renters' pain growing as political parties focus on homeownership in their election campaigns.

The Royal Institution of Chartered Surveyors said on Thursday that rental demand had more than tripled from April 10 to May 35. At the same time, new landlord directives indicating that landlords are putting their properties up for rental were flat.

The professional body's monthly survey measures differences between training and the proportion of UK inspectors registering increases and decreases in rental demand.

The growing gap between supply and demand for rentals means rental prices will continue to rise for the foreseeable future, albeit at a slower pace than previously, Rics said. The UK's rental market is facing increasing challenges and it will be interesting to see how the political parties address this issue.

Official data released last month showed rental prices soared at an annual rate of 8.9% in April, down from a year-to-date high of 9.2% in the year to March.

The survey comes as both the Conservatives and Labor set out measures to help people get on the property ladder if they return to power on July 4.

The Conservatives, who trail Labor by about 20 points in opinion polls, have pledged to abolish stamp duty for first-time buyers on homes worth less than $425,000. Meanwhile, the main opposition party proposed a government mortgage guarantee system called ‘Freedom to Buy’.

Rics chief executive Justin Young insisted both main parties were homeowners, but said that would require greater attention to improving conditions at Generation Rent.

Rents are rising at a rapid pace due to high demand, and many people are avoiding buying a home because they cannot afford their mortgage payments.

The rise in rental costs, most acutely felt in London, has been coupled with a shortage of supply. Some landlords have left the market due to increased bureaucracy and high borrowing costs, which in some cases they have passed on to tenants.

Jason Coombes, a valuer at Cottons Chartered Surveyors in Birmingham, said: The lack of increased rental supply continues to create a perfect storm for rental prices. Increasing demand, decreasing supply and the need for landlords to cover increased costs.

The survey also showed that new buyer demand turned negative in May at minus 8, the lowest figure since November 2023, which Rics attributed to falling confidence in an imminent interest rate cut.

Respondents also reported a decline in the number of sales agreed in May, with Ric's measure of house prices plummeting to minus 17 from minus 7 in April.

Sources 1/ https://Google.com/ 2/ https://www.ft.com/content/ac4f2c1f-4d34-49e8-932e-d2f09e144b08 The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos