According to reports, shortages are particularly bad in councils areas popular with tourists, with landlords switching their properties to more profitable short term holiday lets.
Eleanor Bateman, Policy Offficer for Propertymark, commented: “Concerns over a shrinking private rented sector is not a new conversation, but it is one that is not being acknowledged.
"If the situation continues to be ignored by decision-makers fixated on taking a piecemeal approach to legislation we shouldn’t be surprised if the number of people on housing waiting lists skyrockets.
"With the removal of Section 21 on the table, unrealistic energy efficiency targets, and the attraction of short-term letting, the UK Government will find that the private rented sector continues to diminish, and homelessness will rise. The sector needs high standards and regulation, but it must work for both landlords and tenants.
"As we await their Renters’ Reform White Paper, it’s imperative the UK Government recognises that the balance has swayed too far. There are too few incentives for investors in the private rented sector, and regulatory and tax levers must be reviewed to avoid unintended consequences."
