Industry News Sally Walmsley 06/10/2020

Prime Minister wrong on rented housing

The Prime Minister is wrong to believe that those in private rented housing are unable to turn the properties they live in into a home of their own.

The implication -  in his speech today to the Conservative Party Conference - flies in the face of a previous survey of tenants.

This found that 63% of renters had redecorated their home and 52% had made significant changes to their gardens with the permission of their landlord.

Chris Norris, Policy Director for the NRLA said: “Whilst we believe that those who want to should have the opportunity to buy a home of their own, the Prime Minister is wrong to imply that renters cannot turn the properties they live in into a home of their own.

“Indeed, landlords much prefer to have tenants settled long term in a home they feel comfortable in and want to look after.

“If the Government really wants to support homeownership it should consider changes to the tax system to support and encourage landlords considering leaving the market to sell to first time buyers.

“Reports that Ministers are considering an increase in Capital Gains Tax would serve only to incentivise landlords to hold on to properties longer than they might otherwise have done.”

The survey was carried out by the National Landlords Association (NLA) before it merged to form the National Residential Landlords Association (NRLA).