university petition

22 Aug 23

New research has come to a conclusion that will surprise few – that landlords today are twice as likely to be selling as buying.

Findings published by research consultancy BVA-BDRC – in a study commissioned by the National Residential Landlords Association – show that in Q2 2023, some 12 per cent of landlords in England and Wales sold properties. In contrast, only five per cent purchased.

The research also found that 37 per cent of landlords plan to reduce their portfolios in the coming year – this is the highest proportion recorded.

Just eight per cent say they plan to increase the number of properties they let.

All this is despite ever growing demand: 67 per cent of landlords in the study report that tenant demand has increased in the second quarter of the year – another all-time high.

Now the NRLA warns that the supply crisis will only deepen without urgent government action. 

It calls for ministers to scrap tax changes which serve to deter landlords from investing in private rented accommodation. 

This includes the three per cent stamp duty surcharge on the purchase of homes to let as well as the decision to restrict mortgage interest relief on long term homes to rent.

NRLA chief executive Ben Beadle says: “Whilst the Chancellor has developed a mortgage charter to help homeowners, the lack of assistance for renters and their landlords is clear for all to see.

“Households renting privately are facing the full force of the supply crisis, and change is needed now to prevent the situation from worsening over the next 12 months.

“The government must reverse its damaging tax hikes on the sector. It is frankly absurd to have a tax system that punishes landlords for providing the homes tenants so desperately need whilst favouring holiday lets.”

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