The number of landlords selling properties has increased by 2.5 per cent in the face of rising interest rates and uncertainty over house prices.

The Royal Institution of Chartered Surveyors said ten per cent of investment landlords had put their properties on the market during the three months to the end of July.

This was despite rents in England, Wales and Scotland rising at their fastest pace for three years and demand from tenants remaining firm.

The group said many would-be buyers were taking up rented accommodation while they waited to see what happened to house prices.

Wednesday August 25, 2004