The Royal Institution of Chartered Surveyors (Rics) has cautioned that the UK is facing a ‘critical rental shortage’ and has called on the government to offer tax breaks to encourage building and investment in the sector.
The surveyor’s body has claimed that at east 1.8 million more households will be looking to rend as opted to buy in 2025. It is also cited statistics which showed that the number of UK households renting property rose from 2.3 million in 2001 to 5.4 million in 2014.