Looks at the three months to April 2005 and reports that tenant demand for rental property continued to rise due to uncertainty over house prices and fears of interest rate rises; particularly in southeast, eastern and northern England. Rents continued to rise at a modest pace due to the increase in letting activity. New landlord instructions stagnated for the first time since 1998 indicating that buy-to-let activity has come to a standstill as house prices have stopped rising and interest rates have increased. Existing landlords are not however selling out of the market with the proportion of landlords selling properties on tenancy expiry falling again in the latest quarter. Rental returns (gross yields) to investors have increased for the first time in over four years but remain low by historic standards. Surveyors expect moderate rental increases in the coming three months.