A BBC investigation, using Rightmove data, has found that there are an average of 20 potential tenants slugging it out for each rental home. Anecdotally, from speaking with agents, I think this might even understate the issue somewhat.
This is a real problem - and, with many landlords selling up due to tax changes, it's a real problem that's going to get even realer (if that's actually a word).
The problem, as ever, is a lack of supply. We do not have enough habitable homes for the number of family units that are present on this island. So it's a policy issue - somehow the Government needs to remove its head from its backside and start to really tackle this.
Rishi Sunak's Government has downgraded a commitment to build 300k more properties per year to an advisory target because he doesn't want to offend the Blue Wall of southern, well-off, Conservative voters. He wants to win the next Election, which has to take place in the next year or so.
What that means in practice is that, coupled with the other non-joined-up thinking of making Buy-To-Let financially disastrous for many landlords, this problem is going to get bigger and bigger over the next 12 months.
There are real life impacts of these short-termist, political calculations. We need a grown-up Government that's actually working for the good of the whole country, not for itself and its fickle voters.
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