Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Propertymark: London Housing Shortage Needs PRS Role
Propertymark has called for the private rented sector to play a bigger role in tackling London's housing shortage, in response to Mayor Sadiq Khan's London Plan.
The London Plan aims to provide capacity for around 558,000 new homes between 2027/28 and 2036/37. Under the plan, 50% of homes are to be genuinely affordable over the longer term.
Propertymark argues that the capital's housing shortage cannot be addressed without the private rented sector.
What This Means for Letting Agents
For letting agents and inventory clerks operating in London, Propertymark's position places the PRS within the wider conversation about how the Mayor's housing targets will be met.
The London Plan's proposed capacity of around 558,000 new homes across the 2027/28 to 2036/37 period, with 50% to be genuinely affordable over the longer term, sets the context for that debate.
The Wider Picture
Propertymark's response to the London Plan reflects ongoing industry concern about the role of the private rented sector in meeting housing need in the capital. The body warns that London cannot tackle its housing shortage without the PRS.
Further detail on Propertymark's position is available in the original report.
Source: Property118