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Minister Admits There Are Not Enough Rental Properties

rents grow

Responding to an acknowledgement from the Minister for the Private Rented Sector “that demand is currently outstripping the supply of properties available to let”, Chris Norris, Policy Director for the National Residential Landlords Association, said:

“We welcome the Minister’s recognition of the supply crisis in the private rented sector, but the Government needs to rectify the mistakes it has made in causing this.

“Since 2015 successive Chancellors have sought to choke off investment in the market with a series of tax hikes. All this has achieved is to cut supply whilst demand continues to soar for fewer and fewer properties. The ultimate losers in this are tenants, who are finding it more difficult to access the homes they need.

“We cannot continue to limp along without a pro-growth strategy which embraces tax measures to support investment and ensure renters can find a place to call home.”