Supply of rental properties could diminish across Hampshire, claims landlord association

CONCERNS have been raised about a lack of rental properties in the Solent region.

To Let sign. Picture: Adobe Stock
To Let sign. Picture: Adobe Stock

The National Residential Landlords Association (NRLA) has called for the next prime minister to tackle the supply crisis in the private rented sector.

According to findings gathered by a research consultancy, 21 per cent of landlords in the south east plan to cut the number of properties they let in the next 12 months, up from 16 per cent a year ago.

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Against a picture of falling supply, 74 per cent of landlords across the region also reported increased demand for rental housing in the second quarter of the year.

The NRLA believes that lifting the stamp duty on additional properties would alleviate some of the problems.

Regional spokeswoman for the NRLA, Marion Money, said: ‘Today’s figures show it was a nonsense to think that cutting the supply of rental housing, when demand is strong, would make it easier for those who want to buy their own home. All it is doing is driving up rents, leaving tenants with less cash to save for a deposit.

‘We need a strong and vibrant long term private rental market in the south east – this is vital for those who rely on the flexibility it provides, as well as the help it provides to those who need somewhere to live before becoming homeowners.

‘For many in this position, the promise of social housing tomorrow provides cold comfort today.

‘Overall, the next administration needs to reset its plans for the sector and demonstrate support for both landlords and tenants across the region.’