The rental market in Buckinghamshire, like much of the country, is facing a severe crisis under the Labour Government, worsened by the current Government’s damaging approach to the private rental sector, writes the Conservative MP for Mid Buckinghamshire Greg Smith.

In August 2024, the average monthly private rent in Buckinghamshire was £1,378, which is a 6.3% increase from August 2023.Labour’s misguided policies, such as the impending Renters’ Rights Bill, are driving landlords out of the market, deepening the housing shortage and pushing rents skyward, beyond the 6.3% uplift we saw this year.

The Labour Government’s plans to end fixed-term tenancies and eliminate no-fault evictions sound like they protect tenants, but are already wreaking havoc on landlord confidence. Forcing landlords to navigate an already slow and overburdened court system to evict non-paying tenants only adds to the difficulties. The result is landlords exiting the market in droves.

The Government’s rhetoric on making life easier for renters rings hollow. Instead of addressing the core problem — a lack of affordable housing — they have chosen to punish landlords, pushing them to the brink. Their threats to hike capital gains tax, as suggested by Shadow Chancellor Rachel Reeves, could deal the final blow, forcing landlords to pay up to £90,000 more when selling a property.

The previous Conservative Government, despite challenges, laid the foundation for a healthier housing market by encouraging investment and keeping regulations at a sustainable level. What’s needed now is a return to policies that incentivise private landlords to stay in the market, not Labour’s draconian measures that make it harder for landlords and tenants alike.

If Labour continues down this path, renters will only face higher costs and fewer choices in an already strained housing market. It’s time for a change in course, urgently, to restore confidence and stabilise the sector - which I have no faith this Labour Government will do