RENTS across Oxfordshire are rising because of a shortage of homes available to let, a survey has found.
The Royal Institution of Chartered Surveyors said 38 per cent of agents had seen an increase in rents since June.
In addition, 54 per cent more chartered surveyors reported a rise in property demand for the second consecutive quarter.
Andrew Wraight and Anna Derbyshire have been trying to move from Oxford to Witney but a series of properties they were interested in were let to other people before they could make an offer. Miss Derbyshire, 22, said: “It has been frustrating. There just doesn’t seem to be the same amount of homes on offer.”
RICS South East director Amanda Gardiner said: “Supply of lettings property continued to fall in the three months to July which, amid rising tenant demand, has helped propel rents higher for the second consecutive quarter.”
She added: “The lettings market could see increased supply in the coming months. The latest RICS housing market survey shows a lack of demand from buyers, but increasing numbers of properties for sale.”
She said this could lead to owners deciding to rent out property that they were struggling to sell.
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