s are expected to rise in the new year, according to a survey published today.
It predicts that the number houses up for rent will fall and so push prices up.
Rent prices dropped during the recession as more properties became available for rent with would-be sellers choosing to let their properties when no buyer could be found.
The findings of a survey by the Royal Institution of Chartered Surveyors (RICS) suggest that this trend is starting to change. Property experts expect to see a rise in the number of houses on the market next year buoyed by house prices which have risen steadily since April.
RICS spokesperson Jeremy Leaf said: 'It seems the current upward trend in the housing market is having a more significant effect on the lettings market, with many of the accidental landlords returning to the sales market to take advantage of the recent price increases.
'As a result the recent oversupply is reversing, with new instructions at the lowest levels we have seen. This of course is impacting on prices and tenants no longer have as strong a bargaining power as they did.'
Some areas including London and the north have already seen a rise in rental prices, and this seems unlikely to change as the demand for renting has increased in every region of the UK, except the East.
On average rents are still lower than they were in July 2008, although they are at an all time high since then.
It predicts that the number houses up for rent will fall and so push prices up.
Rent prices dropped during the recession as more properties became available for rent with would-be sellers choosing to let their properties when no buyer could be found.
The findings of a survey by the Royal Institution of Chartered Surveyors (RICS) suggest that this trend is starting to change. Property experts expect to see a rise in the number of houses on the market next year buoyed by house prices which have risen steadily since April.
RICS spokesperson Jeremy Leaf said: 'It seems the current upward trend in the housing market is having a more significant effect on the lettings market, with many of the accidental landlords returning to the sales market to take advantage of the recent price increases.
'As a result the recent oversupply is reversing, with new instructions at the lowest levels we have seen. This of course is impacting on prices and tenants no longer have as strong a bargaining power as they did.'
Some areas including London and the north have already seen a rise in rental prices, and this seems unlikely to change as the demand for renting has increased in every region of the UK, except the East.
On average rents are still lower than they were in July 2008, although they are at an all time high since then.
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