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TODAY'S OTHER NEWS

Rental expert calls on new Housing Minister to reverse tax changes

The head of the UK's largest property franchise group has called on the new Housing Minister, Gavin Barwell, to reverse 'punitive tax policies' in order to increase supply and demand in the rental sector.

Dorian Gonsalves, managing director of 170 branch agency Belvoir, says that George Osborne's 'disastrous anti-landlord policies' are deterring landlords from investing in the market.

He says the policies are affecting tenants, too, as restricted rental supply is pushing up rents. 

Some of the firm's franchises have reported instances of tenants submitting increased rental offers to landlords without being prompted in order to try and secure the property of their choice. 

"This is purely down to a shortage of accommodation and the problem is unlikely to be resolved without government intervention," Gonsalves says.

Belvoir is urging the government to incentivise landlords to invest in the Private Rented Sector as this would see average rents decrease, easing the burden on tenants.

"We are suggesting that Gavin Barwell takes swift action to unpick the disastrous tax policies that were introduced by George Osborne," says Gonsalves.

He says that Barwell has an opportunity to reverse the situation and create an environment where there is an over supply of rental homes.

Earlier this week, Belvoir released its Q2 Rental Index, which found there to be a shortage in family homes available to rent

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