The UK is facing a “critical rental shortage” which requires a building programme to focus on providing for tenants, a surveyors’ body has said.
At least 1.8 million more households will be looking to rent rather than buy a home by 2025, the Royal Institution of Chartered Surveyors (Rics) claims.
It has called on the government to offer tax breaks to encourage building and investment in the sector.
The Conservative Party has indicated its focus remains on home ownership.
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“However, new RICS figures show that 86% of landlords have no plans to increase their rental portfolio this year – with that trend set to remain for the next five years. Additionally, a net balance of 58 per cent of RICS estate agents have reported a drop in buy-to-let sales since May.”
