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UK Home Rental Costs Set for More ‘Sharp’ Increases, RICS Says

  • Supply shortage is pushing up the cost of renting property
  • Rising prices makes it harder for first timers to buy a home

The cost of renting in the UK is likely to soar further in the coming months, deepening the cost of living crisis and heaping more pain on those hoping to buy their first property.

A survey by the Royal Institution of Chartered Surveyors found that rents are expected to keep increasing along with demand from tenants and a shortage as the supply of new properties dries up. That jump would follow a surge in prices that pushed rents to their quickest gains since 2016.