Private Rented Sector: Affordable Rents

Lord Best Excerpts

Thursday 27th February 2025 Lords Chamber

[Baroness Taylor of Stevenage (Lab)]

If I am honest with the noble Lord, I think the pressures on housing come from 14 years of not taking the housing market seriously. We have carefully assessed what the impact of the Renters’ Rights Bill might be, and we do not believe that it will have a significant impact on the supply of private rented housing in the market. Supply has been consistent for several years, and we want to maintain that and to make sure that the Renters’ Rights Bill delivers the right balance of support for both landlords and tenants. There are many really good landlords, and we want to give them the help and support they need through the Bill, as well as supporting our tenants.

[Lord Best (CB)]

My Lords, market rents in the private rented sector are often unaffordable for those on low incomes, which is why I greatly welcome the Government’s announcement this month of more funds for social housing. Roughly what proportion of the 1.5 million new homes the Government are planning for this parliamentary Session will be affordable to those on average incomes and below?

[Baroness Taylor of Stevenage (Lab)]

That is a key question, and I am afraid it is not possible for me to give a specific answer because we have just set aside social housing in local plans. We will be asking local authorities to determine their local need for social housing.