One in four landlords plan property sale over next year – RLA

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  • 02/05/2019
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One in four landlords plan property sale over next year – RLA
A quarter of private landlords are looking to sell at least one property over the next year, according to the latest figures released by the Residential Landlords Association (RLA).

 

This marks the highest proportion since the RLA started asking this question regularly in 2016.

This follows the BVA BDRC research showing landlord confidence is lower than it was during the credit crunch.

Speaking at Mortgage Solutions’ Buy to Let Market Forum in Manchester last week, BVA BDRC director Mark Long described how former chancellor George Osborne had “taken a baseball bat to the buy-to-let market” leaving landlords feeling “battered and bruised”.

However he noted that landlords were selectively pruning under-performing properties, rather than making mass sell-offs.

 

Rental property demand up

The RLA survey also showed that 23 per cent of landlords reported an increase in the demand for rental property over the previous three months, with 57 per cent reporting it to be stable.

Over a third of landlords reported low levels of confidence in the private rented sector for the next 12 months.

The results come following the publication of government data earlier this year, finding that that 10 per cent of private landlords representing 18 per cent of tenancies plan to decrease the number of properties they rent out.

And five per cent of landlords, representing five per cent of tenancies planned to sell all of their properties.

David Smith, policy director of the RLA, said that the government’s tax increases on the sector were already making it difficult for tenants to find a place to live, with many landlords not renewing tenancies.

He added: “If rushed and not thought through, planned changes to the way landlords can repossess properties risk making the situation even worse.

“Action is needed to stimulate supply with pro-growth taxation and a process for repossessing homes that is fair to all.”

 

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