Buy-to-let exodus to flood housing market
One in five buy-to-let landlords plans to sell up over the coming year, prompting fears that amateur property tycoons could be poised to take the heat out of the housing market.
A survey by the National Landlords Association (NLA) found that 380,000 owners of rental properties planned to reduce the size of their portfolios — a move that could “flood the market” with properties.
A raft of tax and regulatory changes introduced by the Bank of England and the government have made buy-to-let property a less attractive investment for would-be landlords, according to the trade body.
One in five buy-to-let landlords plans to sell up over the coming year, prompting fears that amateur property tycoons could be poised to take the heat out of the housing market.
A survey by the National Landlords Association (NLA) found that 380,000 owners of rental properties planned to reduce the size of their portfolios — a move that could “flood the market” with properties.
A raft of tax and regulatory changes introduced by the Bank of England and the government have made buy-to-let property a less attractive investment for would-be landlords, according to the trade body.
The Telegrah adds that although changes to the buy-to-let tax regime are hammering landlords’ margins, many are considering leaving the sector not due to the profit squeeze, but because of problem tenants.
The amount of money landlords are owed in unpaid rent has been rising, as higher inflation places pressure on renters’ incomes.
A third of landlords experienced rental arrears, with the average amount owed totalling £1,650, over the year to autumn 2018, according to the RLA, a trade body.
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