National Residential Landlords Association (NRLA)
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How many private rented homes does the UK need in order to meet demand?

A report by Capital Economics for the National Residential Landlords Association has argued that if owner occupied and social rented homes in the UK continue at their ten-year average rate of growth, the supply of homes for private rent across the country would have to increase to meet Government targets. 

Capital Economics sets out how, in order to meet targets for housing supply, the Treasury needs to encourage investment in the sector. This includes, increasing the rate of new builds and switching commercial property to residential use. The report also points to the contribution the sector can make in moving stock from short term to long term lets and bringing empty homes back into use.

The North West

The North West needs over 10,000 new private rented homes a year to meet its housing needs.

Ruth Rowntree, North West Representative for the National Residential Landlords Association recently said:

“As the demand for private rental properties continues to increase, renters across the North West will struggle to find the homes they need and can afford as supply continues to fall.

“We have repeatedly warned the Government in recent years about the impact of their policies. These figures show the pressing need for a different approach to stimulate growth in the private rented sector across the region to supply the homes that people want and need.”

Yorkshire and The Humber

Yorkshire and The Humber needs almost 12,000 new private rented homes a year to meet its housing needs.

Ruth Millington, Yorkshire and The Humber Representative for the National Residential Landlords Association recently said:

“As the demand for private rental properties continues to increase, renters across the Yorkshire and The Humber will struggle to find the homes they need and can afford as supply continues to fall.

“We have repeatedly warned the Government in recent years about the impact of their policies. These figures show the pressing need for a different approach to stimulate growth in the private rented sector across the region to supply the homes that people want and need.”

The East Midlands

The East Midlands needs over 12,000 new private rented homes a year to meet its housing needs.

Teresa Kaczmarek, East Midlands Representative for the National Residential Landlords Association recently said:

“As the demand for private rental properties continues to increase, renters across the East Midlands will struggle to find the homes they need and can afford as supply continues to fall.

“We have repeatedly warned the Government in recent years about the impact of their policies. These figures show the pressing need for a different approach to stimulate growth in the private rented sector across the region to supply the homes that people want and need.”

The West Midlands

The West Midlands needs over 15,000 new private rented homes a year to meet its housing needs.

Don Robbie, West Midlands Representative for the National Residential Landlords Association recently said:

“As the demand for private rental properties continues to increase, renters across the West Midlands will struggle to find the homes they need and can afford as supply continues to fall.

“We have repeatedly warned the Government in recent years about the impact of their policies. These figures show the pressing need for a different approach to stimulate growth in the private rented sector across the region to supply the homes that people want and need.”

 

Channel website: https://www.nrla.org.uk?ref=wg

Original article link: https://www.nrla.org.uk/news/how-many-private-rented-homes-does-the-UK-need-in-order-to-meet-demand

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