The buy-to-let market has come to a standstill as a result of rising interest rates according to the Royal Institution of Chartered Surveyors (Rics) latest lettings survey.
New instructions from landlords to let their property have stopped for the first time since 1998 indicating a flat housing market and that current interest rate levels are deterring new buy-to-let investors from entering the market. Rics says despite the apparent stagnation in the buy-to-let market landlords currently operating in the market are maintaining their position with the number of landlords putting their property up for sale in decline. The market is also seeing increased tenant demand as prospective buyers wait until the wider housing market stabilises. Tenant demand is risi...
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