A new report from Shawbrook Bank has attempted to sum up the current state of the private rented sector and where it might be headed. The research involved detailed analysis of information from government departments and the Office for National Statistics (ONS), a survey of 1,000 private landlords and 1,000 tenants, and interviews with specialist property finance brokers.
New research has revealed that on a monthly basis it's now cheaper to rent a home in the UK than it is to buy one. This represents a significant shift from early 2020, and is the first time in five years that it's been the case.
A June 2021 report from international estate agents, Hamptons, attributes this shift directly to the knock-on effects of the pandemic.
The eviction bans in England, Scotland and Wales have been extended in an effort to protect vulnerable tenants during ‘lockdown three’. Suspensions on eviction enforcement in all three nations were due to expire, but the ban in England will now run until 21 February and those in Scotland and Wales will end on 31 March.
The COVID-19 pandemic has affected landlords in various ways and to different degrees. Luckier landlords may have seen minimal effects, but others have had to deal with loss of income, delayed repossessions and logistical challenges related to social distancing and self-isolation. And possibly cockapoos.
For national and local government, vulnerable people present a tricky dilemma in terms of housing. They often rely on the state to give them a place to live, but many have very complex needs which are not well served by normal rented accommodation. They might struggle with personal care, ongoing health problems, or other day-to-day tasks and admin.
As our government continues to wobble along a tightrope between keeping a lid on the virus and trying to let everyday life continue in some form, sending students back to university was always going to be a big gamble.
