Further highlighting the challenges in the housing sector, a survey conducted by the National Residential Landlords Association (NRLA) revealed a robust demand for rental properties, with 83% of landlords describing it as ‘strong’.

However, the survey also showed a worrying trend: 31% of landlords are considering reducing their rental offerings, while a mere 9% are looking to expand their portfolios.

The NRLA’s findings align with data from property website Rightmove, which noted that an additional 50,000 rental properties are required to restore the market to its pre-pandemic condition.

“Landlords selling up is the single biggest challenge renters face,” said Ben Beadle, NRLA chief executive. “The only answer is to ensure responsible landlords have the confidence to stay in the market and sustain tenancies.

“As Peers debate the Renters (Reform) Bill, it is vital that it works for landlords as well as tenants. As it stands, it would achieve this balance. We are calling on Peers to support the bill to give the sector certainty about the future. More broadly, all parties need to accept widespread calls for policies to boost supply in the private rented sector.”