Buy-to-let landlords are having an adverse impact on home ownership, according to new research.
Fresh analysis by Onward suggests that the government should do more to help create a level playing field between home owners and private landlords by limiting the number of properties buy-to-let investors can own.
The Conservative think tank has also recommended ending or limiting tax breaks for both private and buy-to-let landlords, in order to deter them from investing in residential property because buy-to-let reduces the number of homes available for people who want to buy them to actually live in.
Neil O’Brien, who compiled the report, said: “We need to change the balance between the rented sector and home ownership.
“We should protect existing landlords but discourage more people from investing in rental property, because the buy-to-let boom has bid up prices and reduced homeownership among younger people.”
In addition, O’Brien, a former George Osborne aide who has also worked for Theresa May, wants to see foreign investment limited and local councils given greater control of housing stock and the power to reform of the planning system, with a view to helping the government reach its target of building 300,000 new homes a year in England by 2025.
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