230k new private rented homes a year needed

Research commissioned by the National Residential Landlords Association (NRLA) suggests that the UK needs nearly 230,000 new private rented homes a year. Capital Economics determined that if owner occupation and social housing continue at their typical rate of growth, the private rented sector supply will have to increase by 227,000 homes per year to meet Government targets. It argues that greater investment in the sector would support new housing through a combination of an increased rate of new builds; the switching of commercial property to residential use; the switching of stock from short-term to long-term lets and bringing empty homes back into use. Capital Economics said "a series of policy changes" had reduced the stock of rental properties in the UK, adding that "supply could fall by over half a million more over the next decade" if no changes are made.

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