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U.K. Property Rents Set to Surge as Listings Drop, Survey Says

  • Tenant demand is rising while new rentals from landlords fall
  • London rents set to stay flat as pandemic prompts departures
London High Rises Are Investors' Fix for Ghostly Shopping Malls
Photographer: Hollie Adams/Bloomberg

The cost of renting a home in the U.K. is likely to rise in the next three months as landlords put fewer properties on the market during the coronavirus pandemic, an industry survey shows.

Tenant demand climbed in the quarter to February while new instructions to let out property fell, according to the Royal Institution of Chartered Surveyors. It expects rents to rise 2% this year, and more property appraisers expect growth in the coming three months.