New chancellor must change Government’s attitude to PRS

Autumn Statement
Sally Walmsley
Written by Sally Walmsley

New Chancellor Philip Hammond must change the Government’s attitude to the Private Rented Sector to prevent the UK housing crisis spiraling out of control.

Since 2015 George Osborne has imposed punitive tax rises on the private rented sector claiming that landlords are preventing first time buyers getting onto the property ladder.

However the Residential Landlords Association (RLA), backed up by a report from The London School of Economics, has argued that only a minority of sales to landlords involve bids from both types of buyer.

The clampdown comes despite independent predictions that one million new homes to rent will be needed over the next five years and the Treasury Select Committee warning that: “addressing the “home ownership crisis” must not come at the expense of a shortage of homes to rent.”

The RLA is calling on the new Chancellor, Philip Hammond MP, to change course and recognise that forcing some landlords to sell up and stifling investment by others will only make it more difficult for many people to find suitable housing and will push up rents for those in rented accommodation.

Alan Ward, Chairman of the Residential Landlords Association said: “Access to decent, affordable homes to rent is vital to supporting a flexible labour market, and ensuring that young people and families have a place to live.

“Whatever the new Government does to support home ownership, demand will continue to increase for homes to rent.

“The new Chancellor has an important opportunity to reverse recent punitive tax changes and support the majority of landlords who are providing good housing to their tenants to invest in the new homes we need.”

About the author

Sally Walmsley

Sally Walmsley

Sally Walmsley is the Magazine and Digital Editor for the NRLA. With 20 years’ experience writing for regional and national newspapers and magazines she is responsible for editing our members' magazine 'Property', producing our articles for our news site, the weekly and monthly bulletins and editorial content for our media partners.

1 Comment

  • Hi thanks for the article. We have built up a portfolio of several properties over 15 years in an area of high demand for small low cost rentals and I have now retired from the day job and we were looking to properties to help with pension
    We feel completely betrayed by government who I have voted for all my life but no longer.
    Not sure where people here are going to live as every landlord I know is looking to sell and not invest in renovating old properties

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