Spending Review fails private renters

Today's Spending Review has failed to deliver when it comes to tackling the immediate supply crisis within the private rented sector.

Responding to the announcement, Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

“Today’s spending review does nothing to tackle the immediate pressures in the private rented market.

“It does nothing to support the delivery of the one million new private rented homes needed by 2031 to meet growing demand. 

“It does nothing to support and encourage investments in energy efficiency works to rental properties.

“And it does nothing to support all those renters struggling to find a home as a result of the Government’s freeze on housing benefit rates.”

-ENDS-

Notes:

• Research by Savills suggests up to one million new private rental homes are needed by 2031 to meet growing demand. Further details can be accessed here.
• Last year the Committee on Fuel Poverty noted that: “Currently the major energy efficiency programmes are targeted at the owner occupier sector (e.g. Energy Company Obligation, Home Upgrade Grant, Great British Insulation Scheme) or the SRS (Social Housing Decarbonisation Fund). Previously the Committee on Fuel Poverty argued that the PRS be treated as a commercial sector as landlords are effectively managing a business that should meet required standards. Landlords could be helped to meet these standards through tax offsets for improvements, loans or potentially grants for landlords with a low profit margin in areas of low rental value.”
• Research by Crisis suggests that just 2.7% of private rented properties listed in Britian were affordable for people on housing benefit between April and October 2024. Details can be accessed here.
• Further information about the NRLA can be found at www.nrla.org.uk.  It posts on X @NRLAssociation.
• For further information contact Ed Jacobs by emailing [email protected] or calling 07900 052659.
• The NRLA’s press office can be contacted by emailing [email protected] or by calling 0300 131 6363.