Housing gloom sparks letting boom - RICS

A report by the Royal Institution of Chartered Surveyors (RICS), published today, found new instructions to let increased at the fastest pace in the survey's history. The RICS says surveyors report that frustrated vendors have been placing their property in the market to let as they have been unable to agree sales due to a lack of demand in the housing market. The study also found that rents have continued to rise while house prices have fallen, driving gross yields upwards. Rising profits have kept landlords committed to the market, the RICS says. RICS spokesperson James Scott-Lee says:...