The number of rented homes available will need to increase by 230,000 every year if the UK is to meet government housing targets by the middle of the decade, according to research commissioned by a landlord group.

The analysis by Capital Economics for the National Residential Landlords Association says that the government’s target of seeing 300,000 new homes built a year by the mid-2020s would require 340,000 homes to be either purpose built or converted to rented housing, if the proportion of rented and owner-occupied housing is to remain constant.

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