Make Investment In Buy To Let Attractive
The chief executive of Propertymark has reiterated his call for the government to make investment in buy to let attractive.
Nathan Emerson says: “The growing disparity in the number of homes available to rent when compared with increased demand from prospective tenants is alarming and continues to widen from already worrying levels which is putting pressure on rents.
“In turn, more and more tenants are falling into arrears as affordability worsens.
“The reason for this lack of growth is due to the lack of incentives and constant financial and regulatory pressures placed on landlords, which is providing little reason to stay or make investment in buy to let market.
“Governments across the UK need to urgently address the underpinning reason for these issues which is undersupply and must now look to adequately incentivise the provision of desperately needed homes in the private rented sector.”
His comments come following the release of government figures for the private rental sector.
These show rents rose 5.5 per cent in the 12 months to August, up from 5.3 per cent in July.
London had the highest annual percentage change in private rental prices in the 12 months to August at 5.9 per cent while the North East and South West saw the lowest at 4.8 per cent.
London’s annual percentage change in private rental prices was at its highest annual rate since the London records began in January 2006.
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