• Landlords are expected to reduce their rental portfolios over coming years
• They have been hit by stamp duty hikes and other tax changes
• Tenants will be left to compete over a smaller pool of properties
Rents are set to rise by a hefty 25 per cent over the next five years, according to a survey of property experts.
When it comes to house prices, chartered surveyors revealed they anticipate less of an increase of just under 20 per cent.
The Royal Institution of Chartered Surveyors said the lift in rates would be triggered by landlords decreasing their portfolios, leaving tenants to compete over a smaller pool of properties.
Recent stamp duty hike for landlords and other tax changes have started to diminish the attractiveness of buy-to-lets as potential investments.
In the poll, 28 per cent more surveyors said they felt landlords are more likely to decrease rather than increase their portfolios over the next 12 months.
Meanwhile, over the next three years a balance of 26 per cent said they expected landlords to scale back their portfolios.