‘Perfect storm’ set to hit lettings, landlords warn

Ben Beadle of the NRLA says many pressures will force demand for rental homes up even higher in the next few years.

The lettings market faces a ‘perfect storm’ of pressures that will force demand to rocket even higher during the next few years, landlords warn.

Two thirds of landlords say numbers of tenants looking for private rented housing are increasing all the time, according to research commissioned by the National Residential Landlords Association (NRLA).


In the final quarter of last year, 63 per cent of landlords reported higher demand from tenants.

In its Budget submission to the Treasury, the NRLA highlights:

  • Projections from university admissions body UCAS which show there could be a million applicants for higher education in a single year in 2030, almost a third higher than in 2022.
  • The number of those aged 15-29 is set to increase by over 6% over the next decade, according to the Office for National Statistics.
  • Net migration is likely to settle at 245,000 annually by 2026/27, according to the Office for Budget Responsibility. And data shows that migrants are three times more likely to be in the PRS than the UK-born population.
  • Continued difficulties for many who aim to become homeowners with mortgage rates high.
Lettings drop?

The NRLA’s survey data shows that landlords are far more likely to sell rather than invest in new properties to rent.

Whilst 11 per cent plan to increase the number of homes they let, 30 per cent want to cut the number.

The NRLA is calling on Chancellor Jeremy Hunt to scrap the 3% Stamp Duty levy on homes to let.

The demand for private rented housing is only set to grow.”

Ben Beadle, CEO at the NRLA (main picture), says: “The demand for private rented housing is only set to grow. As it does, would-be tenants will face the reality that there are not enough homes to meet their needs.

“This is a result of deliberate efforts using the tax system to dampen supply.”

One Comment

  1. As predicted years ago, the biggest backfire in history of PRS is en-route. Genius tenants lobbied for fee bans, more regulation and landlords left. Doh. The even bigger genius GOV assaulted landlords with 3%, no mortgage offset, so landlords left. The GOV then dropped the nations borders to increase demand! Then there is “shelter”; The PRS assault has to be the most predictable, dumbest, self-inflicted wound in its history.

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