Worrying slump in UK property rental market says Home.co.uk

June 22, 2017
new build home fronts

Press release yesterday 21st June 2017 from Home.co.uk headlined ‘Alarming Decline in Homes for Rent’.

The UK property rental market has seen a worrying slump of 11.6% in available stock over the last six years, according to new figures released by Home.co.uk. In some areas the fall is much more dramatic and can only compound people’s housing woes.

Scotland has seen the most dramatic fall, with a 34.7% decrease in available properties to rent between July 2011 and June 2017. In Wales over the same period there has been a fall of 28.1% while the South West has seen a decline of 26.5%.

Home.co.uk director Doug Shephard said: “It is ironic that the government’s justification for tax changes in the PRS was to ‘level the playing field’ for wannabe homeowners. The result of this barrage of red tape and taxation, at both local and national government levels, has meant that the supply of rental properties has fallen behind demand in most regions thereby driving up rents. Of course, it’s not the first time that government tinkering and tax grabs have backfired but the upshot for Generation Rent is appalling.

The ‘elephant in the room’ for the government is that record low mortgage interest rates have driven unprecedented investment in the PRS over recent years. Simply put, those already with significant home equity have been able to come up with deposits for properties intended to let whilst aspiring homeowners are as cash-strapped as ever as they pay out huge sums in rent. However, ultra-low interest rates and the associated pain for renters look set to persist for the foreseeable future.”

Read the press release from Home.co.uk in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Breaking Property News 3/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Oxford to Cambridge Growth Corridor launches shared vision to become a top-10 global innovation cluster Later today, at a major science and innovation conference hosted by Bidwells at Westminster’s QEII Centre, the Chancellor, Science Minister Lord Vallance and Housing Minister Matthew Pennycook will set out a…
Read More →
Estate Agent Talk

Refurbishment budget requirements approach £86,000

Jonathan Samuels, CEO of specialist lender, Octane Capital, believes that whilst refurbishment projects continue to offer some of the strongest value-add opportunities within the property market, investors must ensure they budget appropriately from the outset, with contingency planning often proving the difference between a successful project and one that stalls before completion. Octane Capital analysed average…
Read More →
Letting Agent Talk

Renting for Life: Six in Ten Tenants are Staying Longer Than They Ever Planned

Six in ten tenants across England and Wales are renting for longer than they ever planned to, according to new research from LRG. The Spring 2026 Lettings Report, which draws on responses from 650 landlords and tenants, found that 40% say they have been in the rental market for much longer than they expected, with…
Read More →
Estate Agent Talk

Keep Your Move on Track: Reducing the Risk of a Fall Through

Buying or selling a home is one of the biggest financial commitments most people will ever make. Unfortunately, not every agreed sale reaches completion. When a transaction collapses before contracts are exchanged, it is known as a “fall through”. Fall-throughs can be costly, causing delays, financial losses, and significant stress for everyone involved. Buyers may…
Read More →
to let sign 2025
Breaking News

London rents up just 0.7% since RRA became law

The latest research from London lettings and estate agent, Benham and Reeves, has revealed that rental growth across London has remained consistent since the Renters’ Rights Act received Royal Assent, with rents increasing by just 0.7% since, the same rate of growth seen during the equivalent period prior to October of last year. In fact,…
Read More →
Letting Agent Talk

Will RRA mean almost 50% of renters need a guarantor?

A surge in tenants who require a rent guarantor is coming to the post-RRA rental market   New analysis by Zero Deposit reveals that the proportion of local authority districts in which the average tenant is likely to need a rent guarantor to secure pass tenancy affordability checks could increase from one-in-five to almost one-in-two…
Read More →