A leading property expert says the UK is heading for a “horrendous housing crisis” that could worsen with the advent of the Renters’ Rights Bill.
Kate Faulkner (main image) says that with councils under unprecedented financial strain, homelessness figures rising, and intense competition across both the rental and homeownership sectors, she is now really worried about the scale of the crisis.
According to Shelter, 354,000 people in England experienced homelessness last Christmas, including more than 161,000 children - a 14% year-on-year increase. Meanwhile 1.3 million households remain stuck on social housing waiting lists due to the chronic shortage of genuinely affordable homes for rent.
“With local councils’ budgets stretched to the brink, the usual fallback - placing homeless families in hotels or B&Bs - is becoming increasingly unsustainable,” explains Faulkner.
“Add to this the government’s statutory obligation to provide housing for asylum seekers, and the system is under severe pressure.”
The private rented sector - often the only viable alternative for many - is also under immense stress, but despite the UK population growing by more than 3 million since 2015, the number of privately rented homes has remained stagnant at around 4.5 million, she adds.
“I’m getting reports that tenants with budgets of £2,000+ a month are struggling to find a property to rent, especially if they have children and need to be near schools and family or other supporting services.
“I think we are heading to a serious crisis of homes available, and indeed, in some areas we are already in it. With the Renters’ Rights Bill coming in, that could make things a lot worse too if landlords continue to sell off their investments.”
Faulkner is chair and keynote speaker on the ‘Renting for good: An in-depth landlords’ forum on social impact and supported letting’ panel at the National Landlord Investment Show on 9th July. Register for your free ticket.
Main image credit: Christopher Watkin.
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