“Stop meddling!” – stark warning from surveyors to government
The normally-sedate Royal Institution of Chartered Surveyors has issued an unusually stark warning to government, telling it to “stop meddling” in the private rental sector.
Tamara Hooper, RICS’ policy manager, says: “Persistent government meddling in the private rented sector has dampened landlords’ appetites to invest and expand their portfolios, with many consolidating their assets, or leaving the sector altogether.”
And she adds: “In addition, the regular changes to the PRS regime has decreased stability and standards for tenants.
“The government needs to stop tinkering with PRS activity – through misguided eviction processes, taxation and fees – and help provide a careful balance between landlords and tenants’ rights.
“This will encourage more landlords back to the market as well as ensure that tenants, including those who are most vulnerable, are not at a disadvantage in being able to find a suitable and affordable home to rent.”
Hooper’s rebuke for the government comes as RICS’ latest rental market survey – out today – shows that quarterly seasonally adjusted figures for tenant demand points to another rise in the three months to October.
The net balance of respondents indicating increased demand in their areas was 22 per cent – the firmest reading since the end of 2016.
At the same time, new landlord instructions declined once again as the pace of decline seemingly gathered momentum over the quarter.
On the back of this, rental growth expectations for the near term strengthened further, with every UK region/country projected to see an increase in rents over the coming three months.