As reported in the FT last week
UK rental listings dropped in August at the fastest rate since the first Covid-19 lockdown, according to a leading property survey, suggesting landlords are leaving the market because of tax rises and the upcoming renters’ rights bill.
The Royal Institution of Chartered Surveyors said its measure of “landlord instructions” last month dropped to minus 37. That is the worst score since April 2020, when the country was in strict lockdown and the housing market largely shut.
The index, which measures the difference between the share of agents reporting rising and falling listings, points to a contraction in supply, which many agents attribute to tax and legislation changes. The figure is the latest in several increasingly gloomy results for the measure in recent months.