RESPONDING to the Chancellor’s Budget statement, David Smith, Policy Director for the Residential Landlords Association, said:
“Today’s Budget fails the country’s private tenants.
“Whilst the Chancellor again outlined the Government’s desire to boost homeownership, he failed to address the needs of the millions of people who cannot or do not want to buy.
“With the demand for private rented housing rising whilst supply is shrinking, we needed pro-growth taxation measures to ensure that tenants have an adequate supply of housing to choose from. Despite being given innovative suggestions to protect tenants in their homes, encourage sale to tenants, and improve energy efficiency, we got a damp squib with little more than promises of further consultations. Eventually the government will need to stop consulting on the housing crisis and take action.”
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· RLA PEARL’s research,Investigating the effect of Welfare Reform on Private Renting, can be accessed at:https://research.rla.org.uk/wpcontent/uploads/investigating-effect-welfare-reform-private-renting.pdf. Page 17 notes that“84% of landlords reported stable or increased tenant demand for privately rented properties.”
· In its residential market survey for September 2018, the Royal Institution of Chartered Surveyors has noted:“In the lettings market, tenant demand rose at the national level for the fourth successive month (on a non-seasonally adjusted basis). Set against this, instructions to let remain in decline, with the survey’s series for landlord listings having been stuck in negative territory since October 2016. Rental projections for the year ahead point to growth of just over 2%, with this rate anticipated to accelerate, averaging around 3.5% per annum, over the next five years.”This can be accessed at:https://www.rics.org/globalassets/rics-website/media/knowledge/research/market-surveys/uk-residential-market-survey-september-2018-rics.pdf).
· The Residential Landlords Association:The home for landlord
– The RLA represents the interests of landlords in the private rented sector across England and Wales. We’re home to over 50,000 landlords nationwide, with a combined portfolio of over a quarter of a million properties. A growing community of landlords who trust and rely on us to deliver day-to-day support, expert advice, government campaigning, plus a range of high-quality services relevant to their needs.
· Further information about the RLA can be found athttp://www.rla.org.uk/aboutus or by following it on twitter@RLA_News.
· For further information please contact Ed Jacobs on 0113 278 0211 or 07706386773 (out of office hours) or email@example.com.