Jacks
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Felicity Buchan the new housing minister for the PRS wrote to MPs very recently (this week?) and the NRLA retaliated quickly and firmly which is all they could reasonably do. I have not seen her letter but it seems to posit that the reduction of rental properties is not significant either in amount or due to exceptional events (pandemic) and that there is insufficient evidence to point to rental properties leaving the PRS. An overarching conclusion is that they don't really know what is happening but is seems like supply and demand are in equilibrium. (as an economist I believe that conclusion is flawed as equilibrium will always result in a market of fragmented supply and demand and if one of those moves then the equilibrium is merely at a different level!)
A number of people in this chatroom and presumably elsewhere are talking about throwing in the towel. Paul Shamplina is also saying this is happening although I hope he is not basing this on the stats our side use of net reductions between 2017 and 20 which are both minor numbers and out of date. NRLA survey results p. 06 of the mag indicated 71% were being "driven out of the sector". I find this surprising as this doesn't seem to be reflected in the numbers unless there is a lag.
If people are really exiting net in significant numbers then the sooner this is reported the better. The NRLA usually survey's just its members but sometimes goes further. The NRLA receives £6m income p.a from courses and subscriptions. If ever there was a time to spend valuable funds on commissioning research on what is happening to the supply side now should surely be the time as decision makers' opinions are forming and someone like Felicity Buchan who seems like a fairly even handed type seems to be influenced by looking at the figures in front of her. She knows this is contentious and needs evidence if she is going to weigh in our favour.
