Why Is There A Rental Crisis In The UK?

24th May 2024

"While rent control aims to protect tenants from rising costs, it often inadvertently contributes to housing inequality. With limited rental options, those who are more financially disadvantaged struggle to secure suitable housing, limiting their opportunities for social mobility and affecting access to education and work opportunities.

"Draconian rent control policies will have economic consequences for communities and businesses. By reducing investors' appetite and viability, the recent rent freeze legislation has discouraged investment and can only lead to a decline in the overall quality of housing.

“For Scotland... Average rents on new tenancies have soared by nearly 14 per cent in the last year as rents on existing tenancies have been frozen and then capped. The average time to let a new tenancy is now down to around 15 days in both Edinburgh and Glasgow, when 25-30 days used to be the norm. Evidence from the rental portals also shows a gradual reduction in the availability of private rented properties in Scotland, down by around 20 per cent over the last year."

Read the full details HERE