Developments in the private rented sector

Many private renters are still in arrears after the ending of pandemic support. Discretionary payment systems may not adequately deal with the scale of arrears; pre-Covid repossession levels could be reached in 2022. Some landlords appear reluctant to buy properties and some want to sell them, putting pressure on some local markets and making affordable accommodation scarcer. Build to rent (BtR) has grown across the UK, but is still a niche market, catering more for younger and middle-income households. More investment in BtR would add competition and choice. The pandemic has dented short-term rental activity (e.g. Airbnb). Its revival could affect supply of long-term rentals and cause further affordability pressures. Regulation of the private rented sector (PRS) is in a state of flux across the UK. Efforts to rebalance landlord-tenant relations and improve security should be welcomed, although some details of proposed reforms remain unclear.