Housing: Rental Market

Lord Palmer of Childs Hill Excerpts

Monday 28th October 2019 Lords Chamber

[Viscount Younger of Leckie]

I said in my initial Answer that the increase in Airbnb lettings is not having an effect on houses to rent. But on the noble Lord’s point about prices paid by rental tenants in the UK, prices rose by only 1.3% in the 12 months to September 2019, a rate unchanged since May 2019.

[Lord Palmer of Childs Hill (LD)]

My Lords, the Minister replied very blithely to the question asked by the noble Lord, Lord Bird, but Airbnb has become very profitable. Does the noble Viscount not agree that there has been a big decrease in properties for long-term rent and purchase, despite the percentages in his answer, and that the vast increase in short lets is not how to build communities?

[Viscount Younger of Leckie]

I can only quote the figures that I have given noble Lords, which show that there is an increase but it is not having an impact on private rented property. As I said, we want to continue to follow the advocation for self-regulation and to support local authorities. In 2018, the Short Term Accommodation Association implemented the considerate nightly letting charter with Westminster City Council. With the fines that have been imposed—I have the details of those—it seems to be working. As I said, we are determined to follow the voluntary approach at present.