Responding to the ONS reporting that median private rents are at the highest level ever recorded, Watkin Jones Chief Investment Officer, Alex Pease, said:

"Record high rents are clearly driven by a lack of supply, which should be a real worry. Without new high-quality homes to rent, thousands of people will be left competing for shrinking stock and could be forced into poor-quality accommodation. There are tens of billions of pounds from pension funds and other responsible investors waiting to go into new rental housing across the UK, and homes built for rent can be completed very quickly, but planning and our attitudes to renting are major barriers.

Our national focus on housing is chronically unbalanced, we need a far better mix of new homes for rent and for sale. Creating new homes to rent doesn’t stop people from being able to buy, in fact, by offering a good supply of high-quality rental homes we will keep rent increases to a reasonable level and help people who want to save for a deposit."

Alex Pease Watkin Jones Chief Investment Officer