The RICS March survey, gauging the mood of agents, showed continued improvement in the lettings market. Tenant demand has continued to increase, with a net balance of +36%. In contrast, landlord instructions continue to fall, with a net balance of -25%. The imbalance between demand and supply has put upward pressure on rents. +47% of agents report positive rent expectations, with rents expected to increase by just under 3% over the next 12 months. According to Dataloft Rental Market Analytics, the average monthly rent in England (excl London) is £818, and £1,712 in Greater London.
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