Of the approved HomeLet agents who completed the questionnaire, which was conducted by an independent research company, 86 per cent said they expected the market to stay the same, grow or grow substantially over the next 12 months.
Only 6 per cent said they thought it would shrink.
Whilst rising mortgage rates and concerns about the economy have put many people off buying a home, the demand for rented property is continuing to increase.
In fact the latest RICS Residential Lettings Survey revealed demand is now increasing at the fastest pace in the survey’s history (1998), with 42 per cent more surveyors reporting a rise in new tenant lettings than a fall compared to 27 per cent in the previous period.
And although the influx of available properties to let is driving down rents, the weakness in the sales market means this is not discouraging the flow of new letting instructions.
Similarly surveyors are still reporting that gross yields are rising, which implies that rental levels are not falling quite as fast as house prices.
HomeLet's Managing Director John Boyle said: "Despite the recession it appears that concerns about the oversupply of rental properties, due to the increasing number of reluctant landlords looking to let properties they are unable to sell, are not dampening people's spirits.
"Historically, when the sales market is in decline, lettings and management becomes stronger and busier and the results of our survey show that agents are upbeat about the next 12 months and do not fear a downturn in business."
Olivia Donaghy is a Partner at Woods Estate Agents and a member of the Advisory Forum for the National Federation of Property Professionals.
"I think the market is definitely going to increase over the 12 months because of the opportunities which exist for landlords," said Olivia. "Anyone who previously had cash in the bank has seen that diminish and is now turning to the property market for a good annual return on their investment.
"Now is the time to invest in property as there are some real bargains to be had and the rental market is very busy with tenants.
"I don’t think the oversupply of rental property will have a negative impact on the market while there's a national housing shortage. However rents are falling because tenants now have more choice therefore landlords have to supply good standard of accommodation at a reasonable rate. The demographics may change but I am confident we will continue to see a fairly buoyant market."
In the same survey 4 out of 5 HomeLet agents said they would definitely recommend HomeLet to another letting agent.
"We're delighted that our existing agents have the confidence to be able to recommend HomeLet to their fellow professionals," said John. "That is the best possible endorsement for the products and services we provide."
Olivia added: "I would be more than happy to recommend HomeLet because they have shown great support to my company. When we have had to claim under any of their policies they have always won through on their preparation and have always got results due to their professionalism."