Demand from renters to accelerate past a million

by Jason McClean

13:27 PM, 3rd February 2016
About 3 years ago

Demand from renters to accelerate past a million

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Demand from renters to accelerate past a million

Demand for rented homes will rise by more than one million households over the next five years, according to analysis from Savills.accelerate

The latest findings have been revealed despite the government’s efforts to help ‘generation rent’ become ‘generation buy’.

The Government has set a target of building 400,000 new affordable homes for sale over the course of this parliament, but an additional 220,000 homes will be required for renting each year.

The sector is predicted to grow by 1.1 million households by 2021, researchers at Savills have revealed.

House price inflation which is accelerating past wage growth has caused homeownership to be a distant dream for many at a time when the social rented sector has shrunk by 2.8% in the last five years.

This has pushed more households in to private renting despite the economic recovery and ongoing low interest rate environment.

Private renting has been growing by a significant 17,500 households per month on average over the 10 years to 2014.

A spokesperson for Discount Landlord said: “The research presented by Savills is great news for the buy to let sector and for landlords as demand is predicted to continue rising.”

“However, landlords should avoid increasing rents to unreasonably high levels as some rogue landlords may be tempted to do.”

“With more and more tenants requiring properties, it is important to get a full picture of your tenant’s background with Tenant Referencing,” the spokesperson added.

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Comments

Mandy Thomson

14:10 PM, 3rd February 2016
About 3 years ago

Let's hope there'll be plenty of large corporate landlords around then to supply this rental accommodation, as it won''t be smaller landlords with Clause 24 and an increasingly hostile environment. I suspect a large proportion of these large scale landlords will be from abroad.

Jason McClean

14:21 PM, 3rd February 2016
About 3 years ago

Totally get where you are coming from Mandy. Let's hope the Judicial Review gets the right result.

Mandy Thomson

14:30 PM, 3rd February 2016
About 3 years ago

Reply to the comment left by "Jason McClean" at "03/02/2016 - 14:21":

TBH if I were not already a landlord (aka a snivelling parasite..!), I believe I would think twice. Even if Clause 24 doesn't go ahead, it's just a matter a time before there's another move from government to make being a small landlord increasing difficult.

Another article on here yesterday quotes Richard Lambert as saying only 43% of landlords have confidence in the future of BTL http://www.property118.com/confidence-now-worse-in-btl-than-during-the-financial-crisis/84126/

michael fickling

16:03 PM, 3rd February 2016
About 3 years ago

What we must not do is give in..ever..Right is might and we are right.Win or lose on the judicial review. Very similar stuff was eventually repealed to a large extent in Ireland and i know of a similar attack on landlords ( rent restriction levels in that case ) that was also abandoned after a few years in another westernised country. I believe there are other examples too.
We must continue to pillory the conservative party and its MPs and commitees at every opportunity and keep on reminding them that THEY not the labour mob..have introduced a major spanner in the rental works for tennants and landlords and all associated trades/institutions etc and their families and the homeless issue... thats a lot of voters... and they..the conservatives.. have become the first government ever to create a tax without limit based effectively on costs rather than profits. .... ...and very legitimate costs at that.We should be relentless in reminding them that they have completely forfeited any right to our votes and any right to claim to be the party of businesses and entrepreneurs. They have also completely inverted all previous tax rationales...ie the principle of taxing those who earn most at a higher level and less for those making small amounts..( despite Osbornes devious description of the clause to the commons and the nation ) )..as this clause hits people with a current loss.or.break even or small profit situation hardest..due to mortgage interest levels.... in fact harder than those with small ( comparative ) finance costs and of course the companies are exempt from the change.Totally unjustifiable and irrational AND WHEN RENTS SOAR AND HOMES CANT BE FOUND WE SHOULD RELENTLESSLY REMIND THEM THAT THEY CREATED THIS....AND that,, the irish situation and others were there to be seen ..very recent history !!!.the irrationality of the tax principle inversion was there to be seen.The written submissions of us all were there to be read and seen and the conservatives were utterly wrong and utterly foolish to continue with this absurd and unprecedented (in the UK ) nonsense. We should remind them of all of this at each and every possible moment.until they rue the day they took us down this crazy path. ..SO ...what else to do >>>
I for one am quite prepared to sign up to a..... "register of disaffection with the conservative party.".. stating that i will never vote for them again until this clause is repealed. We should also state in that register that we will be informing our tenants as we serve notices variously to quit..or of increased rents..and we will be... that this is entirely due to the conservatives clause 24 and would not be occurring if the conservative party hadnt created this destructive tax clause.
Whilst drafting the register wording and the notice ref tennants stating Clause 24 being the cause.. we could include a standard factual brief..a consequences note/ description of the tax inversion and point out the direct consequences in homelessness and rent rises..( perhaps alluding to Ireland as well )...and tell the government that the signatories of the register ( landlords ..and partners ?? ).. have agreed to serve the consequences document with any such notices served on our tennants,,in addition to the voting boycott... If half a million landlords sign it we can extrapolate maybe 1 million plus tennnants/voting age occupiers receiving this. I dont think the conservatives can afford to alienate 1.5 million voters.We could warn the conservative party ... of the register and send copies of the register AND tennant advisory notice etc to them....indicating also likely political consequences for them as the instigators of all this..
Thats a very big slice of the voting public to lose on one issue.and of course it very much is a life changing issue for those of us directly affected so its fully justified...Perhaps that and other approaches will help to encourage them to make an early u turn on this destructive clause.
Furthermore the cost of doing this..for us.. is minimal..whilst.the political cost to the conservatives is significant. One may be attracted to the concept of sending this right back at em !

Carol Thomas

21:46 PM, 6th February 2016
About 3 years ago

Reply to the comment left by "michael fickling" at "03/02/2016 - 16:03":

Show me where to sign please Michael !!


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