Rising borrowing costs and plans for stricter rules are affecting the rental sector, surveyors say.
Rising interest rates are putting pressure on landlords, pushing some to consider selling up, surveyors say.
The availability of homes to rent has already been squeezed, so higher costs - as well as the Renters Reform Bill - is likely to continue that trend, according to RICS, which represents surveyors. A proposed new law would abolish landlords' ability to evict tenants with no justification in England.A key piece of housing legislation, known as Section 21, allows landlords to evict tenants without giving a reason.
"Reports from the agents read as increasingly desperate cries for help, as the imbalance in the market gets worse with each passing month," said Sarah Coles, head of personal finance at investment platform Hargreaves Lansdown."Given that rent absorbs a far bigger chunk of people's incomes than mortgages, these hikes will add insult to injury. It's going to make it even more difficult for renters to stay on top of their finances," Ms Coles said.
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