Minister’s comment gives the game away about rising rents

The National Residential Landlords Association (NRLA) has criticized Treasury Minister Emma Reynolds for admitting that rental prices are driven by the supply of housing relative to demand. NRLA chief executive Ben Beadle agrees that rents are rising due to a lack of properties and warns that government measures will worsen the situation. Zoopla data shows an average of 12 renters chasing each home, double the pre-pandemic level. Government data indicates that 31% of landlords plan to reduce their rental properties. Beadle highlights concerns about stamp duty hikes, court pressures from the Renters’ Rights Bill, and the lack of financial support for energy efficiency improvements, all of which could further strain the rental market. The NRLA urges the government to address the housing supply shortage to improve affordability for tenants.