The latest survey by the Royal Institution for Chartered Surveyors (RICS) has shown that the buy-to-let market has slowed to a standstill. Net new instructions from landlords to let their property have not risen for the first time since 1998. According to RICS the rise in interest rates has hit the buy-to-let market along with a realisation that higher property prices mean rents are less likely to cover the mortgages. Despite this few landlords are selling up. RICS said: “Poor prospects on return and capital growth are keeping new investors out of the buy-to-let market although continuing healthy tenant demand means existing landlords are holding firm.” (FT)