A snap survey of district councils has revealed that 76% of councils have seen an increase in landlords selling up properties. Shortages are particularly bad for council’s in areas that are popular with tourists, with landlords switching their properties to more profitable short term holiday lets.
Eleanor Bateman, policy officer at Propertymark, commented on the survey: “Concerns over a shrinking private rented sector is not a new conversation, but it is one that is not being acknowledged. If the situation continues to be ignored by decision makers fixated on taking a piecemeal approach to legislation, we shouldn’t be surprised if the number of people on housing waiting lists skyrocket.
“With the removal of Section 21 on the table, unrealistic energy efficiency targets, and the attraction of short-term letting, the UK Government will find that the PRS continues to diminish, and homelessness will rise. The sector needs high standards and regulation, but it must work for both landlords and tenants.
“As we await their Renters’ Reform White Paper, it’s imperative the UK Government recognises that the balance has swayed too far. There are too few incentives for investors in the private rented sector, and regulatory and tax levers must be reviewed to avoid unintended consequences.”