The financial squeeze on tenants looks set to continue, with rents predicted to rise by nearly 4pc over the next year.
Rents have already increased by 4.3pc over the last 12 months and are likely to be driven further upwards by a "scarcity" of mortgage finance and a shortage of good-quality properties for tenants to move into, the Royal Institution of Chartered Surveyors (RICS) said.
Chartered surveyors predict rents will rise by 3.9pc on average across the UK over the next 12 months, the body's residential lettings survey for the second quarter of this year found.
In the three months to July, the amount of new properties coming on to the market was little changed, the study found.
But demand among tenants is continuing to grow and it has outpaced the change in supply since the first half of 2009, although the gap has recently narrowed, RICS said.
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