The recent Truss Budget has been met with widespread criticism from the housing sector, with leading lettings agency reports suggesting that the budget could have a disastrous impact on the market. The budget, which was announced in March 2021, has been described by many as a missed opportunity to address the current housing crisis.
The Truss Budget was intended to help tackle the nation’s housing crisis, but the measures proposed have been widely criticised for failing to address the key issues. The budget includes a number of measures to support first-time buyers, including a stamp duty holiday and a Help to Buy scheme. However, these measures are unlikely to have a significant impact on the rental market.
Leading lettings agency reports suggest that the budget will have a negative impact on the rental market. The lack of measures to address the current housing crisis means that demand for rental properties is likely to remain high, while supply is unlikely to increase significantly. This could lead to an increase in rents, as landlords seek to capitalise on the high demand for rental properties.
The lack of measures to address the current housing crisis could also lead to an increase in homelessness. With demand for rental properties remaining high, those on low incomes are likely to struggle to find affordable accommodation. This could lead to an increase in homelessness, as people are unable to secure suitable accommodation.
The Truss Budget has been widely criticised for failing to address the current housing crisis. Leading lettings agency reports suggest that the budget could have a disastrous impact on the rental market, with rents likely to increase and homelessness becoming more widespread. It is essential that the government takes action to address the current housing crisis, otherwise it could have a devastating impact on the lives of many people across the country.