Residential Landlords Association (RLA)
MP praises RLA campaign, RICS rent rise warning, mayor questioned and call on affordable homes
In today’s politics roundup we look at the MP who is praising the RLA’s work in raising standards, RICS’ warning that an imbalance of supply and demand could see rents rise – and a call for more affordable homes to rent and buy. London mayor Sadiq Khan is also asked for clarification on housing targets.
Buck praises RLA
Labour MP Karen Buck MP (Westminster North) has written an article with advice for MPs who are seeking to change the law using a Private Members Bill in which she praises the work of the RLA.
Drawing on her experience of the Homes (Fitness for Human Habitation) Act she writes:
“Build your support outside Parliament and use this to get MPs on side if you need the numbers for a vote.
“I was fortunate to have help from Shelter, the Chartered Institute of Environmental Health, Generation Rent, the Law Society and others, and they prepared briefings, promoted the bill in the media and lobbied hard as we approached the crucial second reading.
“Spot potential opposition too and do the preparation.
“I talked to and was delighted to get backing from the Residential Landlords Association despite the nature of my bill because they understood that good landlords were being undermined by the bad and the irresponsible.”
To read the full article click here.
RICS warns of rent rises
In its latest Residential Market Survey for December 2019 The Royal Institution of Chartered Surveyors (RICS) has warned that the imbalance between supply and demand could see rents go up
It notes that in the lettings market, tenant demand ) “picked-up modestly over the survey period” whilst landlord instructions “remained very much in decline, with this indicator stuck in negative territory going all the way back to 2016.”
Looking to the future it says:
“Going forward, rents are expected to increase as a consequence of the imbalance between rising demand and falling supply.
“Indeed, projections point to around 2% rental growth over the coming year, while this is anticipated to accelerate to average closer to 3% per annum over the next five years.
“It is worth noting that five year price expectations, at 3.5% per annum, have moved slightly above those for rents for the first time since 2018 (although we would caution against placing too much emphasis on a single month’s figures).”
Khan asked to ‘clarify housing targets
The Greater London Assembly’s Budget and Performance Committee has published a response to the Mayor’s Draft Consultation Budget 2020-21.
Of note, the report states:
“House price inflation has made private ownership unaffordable for many people, which, combined with lower investment in social housing, has led to an increasing share of the population living in private-rented accommodation.
“Private rent is the least affordable form of tenure.”
The report goes on to recommend that the Mayor “should clarify what his core housing targets are, rather than having a wide range. He should also publish targets by tenure.”
Cheaper homes ‘desperately needed’ says Tory MP
MPs yesterday continued debate on the Queen’s Speech with a focus on the ‘Green Industrial Revolution’.
During the debate, Richard Drax MP (Conservative, South Dorset) spoke of more affordable homes both to buy and let being ‘desperately needed’. He went on to say:
“when I say affordable, I mean truly affordable, not 80% of market rent.
“In her maiden speech, Zarah Sultana MP (Labour, Coventry South) spoke of her generation only ever knowing “a future of rising rents, frozen wages and diminishing opportunities.”
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