UK facing ‘critical rental shortage’, says RICS
The Royal Institution of Chartered Surveyors (RICS) has said the UK requires a building programme to focus on providing for tenants as the country faces a critical shortage of homes available for rent. The surveyors’ body projects that at least 1.8 million more households will be looking to rent rather than buy a home by 2025.
Arguing that further investment in property by landlords has been hit by recent changes to stamp duty, RICS has called on the government to offer tax breaks to encourage building and investment in the sector.
The Conservative Government has however indicated that its focus remains on home ownership.
Full story available from BBC News: http://www.bbc.co.uk/news/business-37547912