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Third of landlords planning to sell properties, says trade body

  • 12/05/2023
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Third of landlords planning to sell properties, says trade body
Around a third of landlords in England and Wales are planning to cut the number of properties they rent out in the first quarter of the year, according to a report.

Figures from the National Residential Landlords Association (NRLA), which is based on interviews with around 683 landlords, note that the number now looking to sell is at an all-time high and is an increase from 20 per cent of landlords who planned to cut the number of properties they owned in the same period last year.

The report added that 10 per cent of landlords planned to increase the number of properties they rent out.

Demand remains at a record high with 67 per cent of landlords saying that tenant demand was growing, and in all regions of England and Wales, over 70 per cent of landlords said demand had grown.

The NRLA said that the supply crisis would “deepen further” without action from ministers and called for the government to undertake a full review of tax rises in the sector and create new “pro-growth” policies.

The trade body added that when Section 21 eviction notices are ended, landlords needed confidence that if there is a “good reason” to end a tenancy the “courts will consider and process such cases swiftly”.


Renters hit hardest by supply crisis

Ben Beadle, chief executive of the NRLA, said: “Renters are bearing the brunt of the supply crisis. Without change, matters will only worsen over the coming year.

“The government needs to reverse its damaging tax hikes on the sector, which have discouraged the provision of the homes tenants desperately need.

“Moreover, responsible landlords need to have confidence that they can take back possession of their properties swiftly and effectively when they have good reason to when Section 21 ends.”

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