Both Newark landlords and tenants continue to suffer as a result of Government legislation according to the latest survey published by the National Residential Landlords Association (NRLA).
A survey of private landlords across England and Wales, conducted in partnership with the research consultancy BVA/BDRC, found that 56 per cent reported a rise in demand for privately rented homes in Q4 2021.
Despite strong demand across the country, the proportion of landlords planning to reduce the number of properties they let (24 per cent) out strips the proportion who plan to purchase homes to let (14 per cent). This research comes just days after the economic consultancy Capital Economics warned that, without urgent action, the supply of homes for private rent could fall by over half a million over the next ten years.
Ben Beadle, Chief Executive of the National Residential Landlords Association said: “The rental housing supply crisis is only set to worsen, as renters continue to feel the effects of a market starved of a healthy supply of homes for private rent. The Government needs to accept that for all the rhetoric about homeownership, many people need to rent beforehand. Policies that dampen investment in the private rented sector serve only to reduce choice, drive up rents and, as a result, make homeownership more difficult to achieve.”
They clearly do not appreciate, that as they make life harder for landlords through higher taxation and punitive legislation this will come at a cost to renters. With house prices spiralling due to the lack of supply, renting is much more affordable for people just coming onto the housing market, but they are suffering directly as a result of government policy. It would seem the finest minds in the UK are not running the government!
As Newark landlords and tenants continue to suffer the government sits on its hands making the situation worse with no prospect of a change in the near future. If you are a landlord looking for a solution to issues like this why not contact us to discuss your options.