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Tenants face supply crisis amid calls for an extra 230,000 rental homes a year

Tenants are facing less choice and higher rents as the availability of rental homes shrinks, with nearly 230,000 extra needed every year to match demand.  

These are the findings of a new study, which called for substantial investment into the rental market to ensure that a sufficient supply of properties to let is available in the years ahead.

The findings are part of a study by Capital Economics, commissioned by the National Residential Landlords Association.

The rental market is facing a crisis with a shortage of supply of properties, according to a new study

The rental market is facing a crisis with a shortage of supply of properties, according to a new study

Landlords have been hit by a serious of policy changes in recent years, including a stamp duty surcharge and the removal of tax relief on mortgage interest. Increases to capital gains tax on investment properties have also been discussed.

It means some landlords have stopped increasing the size of their property portfolios, with some leaving the market altogether.

This has led to a shortage of supply within the rental market, which in turn has pushed up prices as tenants compete for the best homes.

The report stated that Government policies and the rise in short-term lets have already weighted on supply, which fell for the first time since 1998 in 2017.

It said that between 2016 and 2020, the annual average net addition to the stock of private rented sector dwellings was 5,000 compared to 205,000 in the previous 10 years.

The report suggested that unless further policy changes are made by the Government to tackle these issues, the shortage will continue.

Indeed, it suggested the requirement for rental homes could rise to 340,000 every year by the middle of this year.

Capital Economics looked at estimates of housing need in each region from the Department for Levelling Up, Housing and Communities and then calculated how many private rented dwellings would be needed if owner occupation and social housing grew at the same rate as they have for the past ten years.

It said that if owner occupation and social housing continue at their ten-year average rate of growth, private rented sector supply would have to increase by the 227,000 per year figure to meet Government targets and an anticipated 1.8 million new households over the next ten years.

The study by Capital Economics claimed that an extra 230,000 rental homes a year are needed to meet predicted demand

The study by Capital Economics claimed that an extra 230,000 rental homes a year are needed to meet predicted demand

The projections come as Government figures show that the supply of private rented housing in England has fallen by almost 260,000 over the past five years.

Capital Economics suggested that without changes in tax or other policies, the private rented sector stock will decrease by around a further 540,000 properties over the next ten years.

It argued that greater investment in the rental sector would support the overall provision of new housing. This would be through a combination of an increased rate of new builds, the switching of commercial property to residential use, the switching of stock from short-term to long-term lets and bringing empty homes back into use.

It added that while some rental demand is met through build to rent schemes, this remains a small portion of the market. And that landlords ‘remain the largest providers of private rental accommodation by some distance.

The shortage of supply within the rental market has pushed up prices as tenants compete for the best rental homes

The shortage of supply within the rental market has pushed up prices as tenants compete for the best rental homes

Ben Beadle, of the National Residential Landlords Association, said: ‘Today’s report highlights in stark detail the supply crisis now engulfing the sector.

‘For all the efforts to support homeownership, the private rented sector has a vitally important role to play in helping the Government to achieve its housing objectives.

‘Without urgent action, the increasing number of people looking for affordable housing will be the ones to struggle as they face less choice and higher rents as supply dries up.’

And Andrew Evans, of Capital Economics, said: ‘The private rented sector, which is predominantly supported by private individual investors, has a key role to play in addressing housing need in the UK.

‘However, the stock of homes for private rent has fallen in recent years, driven partly by a series of policy changes.

‘Without further changes, that supply could fall by over half a million more over the next decade. Even with increased provision of affordable housing and higher rates of owner occupation, both of which are important, our research shows that significant additional investment is needed by landlords in the private rented sector. ‘

It comes as tenants who are being hit by the cost of living crisis are also facing rental inflation of 8.3 per cent.

Last week, Zoopla revealed that the typical rent across Britain now stands at £969 a month, with a single earner now expecting to spend 37 per cent of their gross income on rent.

Gráinne Gilmore, of Zoopla, said: ‘Rents have risen sharply in recent months, amid a backdrop of rising living costs.’

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Do water features like a pool, pond or fountains add value to a home?

He may be used to making a splash in politics. But now it seems that Boris Johnson will be able to do that closer to home, too.

This week, it was revealed that the former prime minister has been given permission to build a swimming pool in the garden of his £3.78 million Oxfordshire country home. 

A move which will doubtless provide a restful place to unwind, exercise and relax as he navigates post-political life.

Deep pockets: A country home with outdoor swimming pool

Deep pockets: A country home with outdoor swimming pool 

But even if you don’t have deep pockets for such deep-water projects, it’s still possible to create the tranquil benefits of waterside living. 

Whether it’s through installing a hot tub, pond, or even decorative fountains. 

But, as our experts point out, it’s important to weigh up the pros and cons before splashing out…

Frequent attention

Introducing any kind of water feature to your garden requires some upkeep.

During the spring and summer, you’ll need to top up your water feature regularly to replenish water loss caused by evaporation. 

And there’s also the task of removing branches and leaves as well as pruning bushes nearby.

‘It’s also a good idea to give your water feature a thorough clean and add a wildlife-friendly algaecide or UV steriliser after cleaning,’ says Will Haxby, home and garden sales director at Haddonstone, which specialises in stonework ‘as this will prevent algae growth build-up caused by the warm conditions.’ 

When the temperatures drop, drain off water before the winter to protect your feature from frost. 

You’ll also need to clean the pump to remove any limescale build-up.

Will it add value?

Installing features like fountains can add to the kerb appeal of your home, says Tabitha Cumming, a property expert at The Lease Extension Company, says: ‘This means that it will make a better first impression and potentially add value to your home.’

Amer Siddiq, founder and CEO at Landlord Vision, believes that water features such as fountains can have other benefits, too.

‘They can help mask unwanted noises from roads or neighbours. They can also attract birds and wildlife, adding a touch of nature to your surroundings.’

Andrew Landers, director at Property Rescue, a home-buying service, says: ‘The post-covid world has seen the importance of outside space massively increase, and any enhancements that make this space more enjoyable is going to have a positive impact on the value of a home.’

Hidden costs

Factor additional costs into your budget, too, since water features rarely boil down to a single, one-off payment.

‘For example if any of your water features have fish, these can incur additional costs from the food and care that they will require, and you will also need to be vigilant to keep them safe from predators,’ says Cumming. 

Some features can cause structural issues, too. 

‘Fountains may become damaged through wear and tear or have cracks caused by water freezing over,’ she adds.

Beware risks

In summer, having a water feature will make you a magnet for friends and family who want to pop around and cool down. 

All of which, says Anna Giles, an associate at law firm Wedlake Bell, could increase scope for accidents

‘Homeowners should bear in mind that they could be subject to a claim for compensation if someone injures themselves at their property, so reasonable care needs to be taken to ensure that visitors and/or occupiers of the property will be safe.’

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Furious landlord hits out at family from HELL after forking out THOUSANDS to fix property: ‘I gave them charity and they treated my home like a doss house’

A landlord who rented out his 3-bedroom County Durham terraced house to a family on housing benefits has been saddled with thousands of pounds in repair damage after the tenants moved out leaving the property looking ‘like a s*******’.

University lecturer Paul Rostron, 57, from Swindon, rents out three small properties in County Durham to contribute to his children’s university fees and had previously been blessed with good, responsible tenants. 

Unfortunately Paul has now been saddled with thousands of pounds worth of repairs and cleaning after his old tenants treated his house like a ‘doss house’ and left  behind mountains of rotting furniture and rubbish. 

In shocking pictures, Paul’s cosy terraced family home is beyond recognisable replaced by layers of dirt, grime and filth. 

The carpeted floors are covered in dust and wrappers as well as discarded clothes and cardboard boxes. 

After three years of habitation Paul's tenants left his house looking like a bombsite

After three years of habitation Paul’s tenants left his house looking like a bombsite

The once immaculate garden has been treated like a personal dump for years

Prior to their tenancy, Paul had spent thousands of pounds making the house cosy for his lodgers

Prior to their tenancy, Paul had spent thousands of pounds making the house cosy for his lodgers

A distraught Paul told MailOnline he had been charging his tenants lower than market rate for the property

A distraught Paul told MailOnline he had been charging his tenants lower than market rate for the property

Speaking to the MailOnline a distraught Paul revealed he was shocked at how little care the tenants had paid to his property in the three years they’d lived there. 

Sharing pictures of the property before the tenancy started, the attention to detail that Paul and his team of decorators had done to ensure his tenants are well looked after is obvious. 

This though, he says, wasn’t meant to last. 

He explained: ‘The tenants moved in in 2020, at the start of the pandemic. 

‘They had the house entirely immaculate. The walls were freshly painted and we had new carpets in at the start of their tenancy.

‘They treated it like a doss house – I have no idea what they did there.’

Paul originally bought the property for £34,000 in 2020 but says that due to the area he has had to rent out properties often at cut prices – meaning that he will be making an overall loss with the repairs. 

A carefully manicured children's room was treated like a pigsty and left with broken appliances

A carefully manicured children’s room was treated like a pigsty and left with broken appliances 

Stained mattresses and broken beds were left leaning against the walls of the small room

Stained mattresses and broken beds were left leaning against the walls of the small room

Rotting piles of rubbish were abandoned in the sitting room along with detritus

Rotting piles of rubbish were abandoned in the sitting room along with detritus 

Cardboard boxes, children's toys and rubbish were littered across the conservatory

Cardboard boxes, children’s toys and rubbish were littered across the conservatory 

Paul was forced to spend thousands of pounds subjecting the house to a deep clean

Paul was forced to spend thousands of pounds subjecting the house to a deep clean

He explained: ‘The tenants were not able to pay the rent themselves so we got them the Universal Credit and got housing benefit to pay the rent

‘They were paying £380-a-month for a three bedroom terraced house. I was making a loss.

‘I was basically giving them charity and in return they treated my house like a s*******’

Since the nightmare renters moved out, Paul has been left to pick up the pieces. 

As well as deep cleaning the rancid property, Paul has had to personally make a host of costly repairs including outfitting the house with new carpets. 

He continued: ‘They moved out two weeks ago and we had to move three skips worth of rubbish out of the house. 

‘That cost over £1,000. . I’ve got to put new carpets in there as well.

‘As for the kitchen, it was disgusting, it made us all vomit so we had to get professional cleaning services in to do all the units and everything. 

‘The cooker was a shambles.

The carpets had rotted away so we had to replace them and have all the house painted all the way throughout.’

The toilet had never been cleaned and the bathroom was filled with waste products

The toilet had never been cleaned and the bathroom was filled with waste products 

Paul had intended to use the rent to help put his children through university

Paul had intended to use the rent to help put his children through university

Aside from the obvious disgust and inconvenience his tenants have caused him, the repair fiasco has left Paul in a lurch with his own children’s university fees – which he contributes to with his side earnings as a landlord. 

He said: ‘I use the money I get from my three rental properties to help my children through university and I’ve taken quite a hit on this. It has cost me thousands of pounds.

‘The maximum deposit you can set is about 5 weeks worth of rent – which doesn’t cover the damages at all.

‘My rental agent told me it was the worst state of a house he’d ever seen. It’s just shocking.’

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“The Creator”: A Glimpse Into A Future Defined By Artificial Intelligence (AI) Warfare

By Cindy Porter

In “The Creator” visionary director Gareth Edwards thrusts us into the heart of a dystopian future, where the battle lines are drawn between artificial intelligence and the free Western world.

Set against the backdrop of a post-rebellion Los Angeles, the film grapples with pressing questions about the role of AI in our society.

A Glimpse into a Future Defined by Artificial Intelligence (AI) Warfare

A Glimpse into a Future Defined by Artificial Intelligence (AI) Warfare

While the narrative treads familiar ground, it is timely, given the rising prominence of artificial intelligence in our daily lives.

A Fusion of Genres

Edwards embarks on an ambitious endeavor, blending elements of science fiction classics with contemporary themes.

The result is a cinematic stew reminiscent of James Cameron’s “Aliens” tinged with shades of “Blade Runner” a dash of “Children of Men,” and a sprinkle of “Akira” This concoction, while intriguing, occasionally veers toward familiarity rather than forging its own distinct identity.

Edwards’ Cinematic Journey

The British filmmaker, known for his foray into doomsday scenarios with the BBC docudrama “End Day” in 2005, has traversed a path from indie gem “Monsters” (2010) to the expansive Star Wars universe with “Rogue One” (2016).

“The Creator” marks another bold step in his repertoire. The film introduces compelling concepts like the posthumous donation of personality traits, punctuated by impactful visuals, and raises pertinent ethical dilemmas. It stands as a commendable endeavor, even if it occasionally falters in execution.

Navigating Complexity

In his pursuit of depth, Edwards at times stumbles into the realm of convolution, leaving the audience grappling with intricacies rather than immersing in the narrative.

While adept at crafting visual spectacles and orchestrating soundscapes, the film occasionally falters in the art of storytelling.

In an era where classic storytelling is seemingly on the wane, some may argue that this approach is emblematic of the times.

AI: Savior or Peril?

“The Creator” leaves us with a question that resonates long after the credits roll: Will artificial intelligence be humanity’s salvation or its undoing? The film’s take on machine ethics leans toward simplicity, attributing AI emotions to programmed responses.

This portrayal encapsulates the film’s stance on the subject – a theme as enigmatic as the AI it grapples with.

“The Creator”

Director: Gareth Edwards.
Starring: John David Washington, Gemma Chan, Madeleine Yuna Boyles, Ken Watanabe.
Genre: Science fiction.
Release Year: 2023.
Duration: 133 minutes.
Premiere Date: September 29.

WATCH: TRAILER

Top 5 Movies by Gareth Edwards:

1. “Monsters” (2010)

– A breakout hit, “Monsters” showcases Edwards’ talent for blending intimate human drama with towering sci-fi spectacles. Set in a world recovering from an alien invasion, it’s a poignant tale of love amidst chaos.

2. “Rogue One” (2016)

– Edwards helms this epic Star Wars installment, seamlessly integrating new characters with the beloved original trilogy. It’s a testament to his ability to navigate complex narratives on a grand scale.

3. “End Day” (2005)

– This BBC docudrama marked Edwards’ entry into the world of speculative storytelling. Presenting five doomsday scenarios, it set the stage for his later exploration of dystopian futures.

4. “The Creator” (2023)

– Edwards’ latest venture, “The Creator,” immerses audiences in a future fraught with AI warfare. While not without its challenges, it boldly tackles pertinent questions about the role of artificial intelligence in our lives.

5. Potential Future Project

– As Edwards continues to push the boundaries of speculative cinema, audiences eagerly anticipate his next cinematic endeavor, poised to be another thought-provoking addition to his illustrious filmography.

“The Creator” stands as a testament to Gareth Edwards’ unyielding vision and his penchant for exploring the frontiers of speculative cinema.

While it doesn’t shy away from the complexities of AI, it occasionally falters in navigating its intricate narrative.

As we peer into this cinematic crystal ball, we’re left with a stark question: Will artificial intelligence be our beacon of hope, or will it cast a shadow over humanity’s future? Only time will unveil the answer.


We Can’t Thank You Enough For Your Support!

— By Cindy Porter

— For more information & news submissions: info@VoiceOfEU.com

— Anonymous news submissions: press@VoiceOfEU.com


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