After yet another year dominated by Brexit uncertainty, political instability, tax, and regulatory changes, most buy-to-let landlords will be looking for far more stability in the PRS in 2020.
The promise to “get Brexit done” helped Boris Johnson to achieve the largest Conservative majority since the Thatcher years, and so it now looks as though the UK will finally be leaving the EU with a withdrawal agreement by 31 January 2020, and that should provide greater economic certainty.
But will Johnson’s government recognise the importance of increasing housing supply for renters by making the private rented market more attractive for buy-to-let landlords?
Successive governments of all political persuasions have passed significant amounts of complex legislation that have adversely impacted landlords, dampening investor appetites to invest in the buy-to-let sector, with some existing landlords consolidating their assets, or choosing to exit the sector altogether.
The drop in housing supply comes at a time when the Royal Institution for Chartered Surveyors (RICS) is warning that the demand for private rented homes is on the up.
Consequently, rents look set to rise across much of the UK next year owed in part to the widening supply-demand imbalance in the sector.
But whatever happens in 2020, we will continue to keep you up-to-date with all the latest news, views and trends across the private rented sector.
We wish you all the best for a successful 2020!