The Royal Institution of Chartered Surveyors has indicated that the UK is facing a critical shortage of rental properties.
They report that the number of households renting property rose from 2.3 million in 2001 to 5.4 million in 2014. They are predicting that this number will rise by a further 1.8 million by 2025.
As a result of recent changes to stamp duty rates and pending changes to income tax allowances for landlords, RICS indicate that a building programme is required which focuses on providing more rental properties. They have also urged the Government to offer tax breaks to encourage building and investment in the rental sector.
The UK is facing a "critical rental shortage" which requires a building programme to focus on providing for tenants, a surveyors' body has said.At least 1.8 million more households will be looking to rent rather than buy a home by 2025, the Royal Institution of Chartered Surveyors (Rics) claims.It has called on the government to offer tax breaks to encourage building and investment in the sector.