Rental housing shortage

Propertymark, the professional body for letting agents within the UK is working collaboratively with the BBC and has been asked to investigate why there is a shortage of private rental housing in the UK.

This offers private landlords a great opportunity to use their voice to identify the issues facing the Private Rental Sector infront of a national audience, via the BBC. Propertymark are calling on all landlords to contribute their views.

Given private rental housing is the second largest tenure of housing in England (the English Housing Survey states that the private rental sector comprised 4.4 million households in the year 2019-20) and the difficulty a great deal of prospective first time buyers face in affording property – especially given the rising cost of living -  the PRS is clearly a vital housing resource. The fact that there is a shortage in property in this sector is clearly cause for concern.

Legislation looming large

Private landlords are currently facing a horizon filled with legislative change.

The UK government has its Renters’ Reform white paper looming, which will “consult on introducing a legally binding Decent Homes Standard in the private rented sector for the first time ever”, and will include how the Section 21 no-fault eviction will be done away with.

In Scotland there is the consultation “A New Deal for Tenants” with goals for giving everyone ‘access to a safe, warm, affordable, high quality and energy efficient home’ by 2040.

In Wales, come July 2022, the new Renting Homes (Wales) Act will come into force and in Northern Ireland the Private Tenancies Bill passed its Final Stage in the Northern Ireland Assembly, so is awaiting Royal Assent.

With this backdrop the industry has seem some private landlords exit the sector, and many others feeling somewhat under attack.

Do you feel like the private rental sector is under attack?

Nathan Emerson, chief executive of Propertymark, is keen that landlords take this opportunity to give their views on the subject:

“Through our contacts we have been offered the opportunity to put this issue onto a national platform and present our side of the story. The housing system needs a balance of tenures, and the value the private rented sector brings must not be underestimated. Landlords provide much needed homes and the country cannot afford to lose them.

“We have an immense opportunity to get some solid evidence in front of decision makers and huge media outlets.”

The information generated by the survey will be used in future dialogue with the government, politicians and with the media by Propertymark to support the cause of private landlords.

Access the BBC/Propertymark survey online here.