A top industry representative speaking at the Council of Mortgage Lenders: Future Housing Conference this week has warned that a lack of ‘family friendly’ rental property could impact the birth rate in the UK.
Yolande Barnes claimed that rental properties are heavily targeted towards childless couples and single person households. As such, she warned that those who would like start a family don’t have enough housing options to do so.
With the continued squeeze on mortgage lending, many people are unable to buy their own homes and choose instead to rent. However, with most rental stock aimed at single people or couples, Barnes argued that lack of space and less opportunity to upgrade to a larger rental property would lead people to delay having children.
Barnes said: “There comes a point when households stop forming when there isn’t a property to move into. We face a real danger in this country of a falling birth rate.
She said there was a lot of scope for investors to expand into family accommodation and a broader range of property types beyond smaller apartments.