The demand for the private rental sector soars, forcing many to stay in their rented accommodations.
The private rental sector in the UK is struggling to keep up with the demand for rented accommodation, as figures continues to rise and many struggle to find affordable housing. With the issue expected to worsen in the coming months, the only solution is to increase the supply of housing projects.
The National Residential Landlords Association (NRLA) reported that if the present rates of growth continue, then the UK’s private rented sector supply of housing needs to grow by 227,000 homes per year.
The answer to solving the crisis is to see more plans for housing projects, converting commercial property into residential and by transforming and making better use of derelict or empty properties.
The government predicts growth of nearly 2 million new households over the next decade, which coincides with the data reported by (NRLA).
A government spokesperson from the Department for Levelling Up, Housing and Communities has said:
“We support the private rented sector and recognise the crucial role Build to Rent homes have in boosting housing supply and increasing quality and choice for renters across the country.
“This government is building more genuinely affordable homes to help people on to the housing ladder. Since 2010, we have delivered more than 574,000 affordable homes and we are investing £11.5 billion in affordable housing.”
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