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TODAY'S OTHER NEWS

Proof - taxes and restrictions make landlords quit rental market

The clearest indication of the rate at which the private rented market is shrinking is revealed in new research by Propertymark.

It shows the number of properties available to rent through letting agents in the month of March halved between 2019 and 2022.

During the same four-year period, 94 per cent of landlords who removed their property from the rental market did so to sell it.

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Over half of rental properties sold in March this year alone did not return to the private rented market.

Nathan Emerson, Propertymark’s chief executive, says: “Our research presents a worrying picture for private renters.

“The number of properties available to rent has been diminishing with a large portion of landlords choosing to sell their properties. A lack of property is the root cause for rent increases and rising figures on social housing lists.

“We know from our qualitative research that the most common reasons for landlords to choose to sell their properties and no longer provide homes are around risk, finances and viability."

He continues: “Landlords and letting agents have been the subject of extreme legislation changes as the UK Government tries to improve the sector. However, without a middle ground, these changes are actually proving detrimental to those they are supposed to protect.

“Sadly we do not see this improving as the sector braces itself for more changes within the anticipated Renters' Reform Bill and upcoming energy efficiency targets.”

Propertymark surveyed 443 agents working for businesses with a combined total of over 4,000 branches across all four UK nations.

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  • George Dawes

    Once the prs is gone completely, which at this rate will be c 2030 ..

    Big brother will be in total control

    You’ll own nothing ….

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    And be happy!

     
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    And won't tenants know about it when they are renting shoe boxes in the sky off big brother, ha ha

     
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    And Boris' stated aim is to reduced the PRS further! Driving LLs out of the market does not put deposits and mortgages into renters hands - they are just left with higher rents and less choice leading to more unable to secure a home.

    All the talk of protecting renters is great for those who can get a home but for those left with nowhere to go there are no other options.

    Reducing the PRS without providing an alternative will create misery for families up and down the country and just shows how little the 'Powers that Be' understand the housing market. Pandering to Shelter / Gen Rent etc is hurting the very people they are supposed to be helping.

  • Peter  Roberts

    To much Red Tape and Costs now.
    Time to put the money in a less stressful place.
    PRS shrinking Day by Day o wonder rents are so high.
    The Government and Councils are making a massive rod for there own backs.
    How will they house all these people in the future.
    Council houses are a thing of the past.
    Bye Bye BTL

  • George Dawes

    Boris does what he's told by his real bosses , the loonies at Davos

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    Yes George.

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    How has this happened…. Said no landlord ever 😂 . Oh well, what ever takes place in regards the EPC mess will be the final nail in the PRS coffin ( after we lose s21). It feels like all small landlords are akin to Captain Smith after he hit the iceberg, just waiting for the inevitable.

  • George Dawes

    The agenda is that you’ll own nothing, including your house , everything will be shared . You’ll have no privacy or rights . The government will control you completely, it’s basically a return to serfdom

    There’s a very interesting video on YouTube all about it

    My advice is enjoy yourself as much as possible as in a few years time it’ll probably be classed as a hate crime

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    What is that video?

     
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    Too much nonsense going on all around, another Tube strike today in London, they don’t want to work themselves and prevent others from going to work as well. Shouldn’t be allowed whatever the grievance stopping others from earning a living. Should be some other way of dealing with this. the workers don’t own the Tube net work do they. Parliament have no qualms when it comes to making any kind of laws they want for Landlords ?.
    Might as well call it another Bank Holiday, did people not have enough time off.

    Rik Fergusson

    In japan the bus drivers went on strike but continued driving for free thus hitting the employer harder and not hitting the public at all. A much better way to do it. They refused to take fares from passengers. Sadly our country uses no logic.

     
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    The strike is over the fact that TFL want to reduce staff in stations to such a level it would be unsafe to operate some stations should an evacuation be required. The next lot of main line rail strikes is over the operating companies paying high dividends to shareholders yet saying they have no money for staff wage.

     
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    Sadly, the people suffering most from all this, haven’t cottoned on yet - that it’s not the landlords who are their enemy……

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    Well no surprise there. Just so tragic for tenants that the people who are claiming to support them are causing the problem. What will it take for them to wake up and see what they are doing?

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    The only winners in this are The Government and Councils , Filling their coffers. The Government with Section 24 Taxes, and Capital Gains Tax when Landlords Sell. Councils manipulating, and being allowed to manipulate the Selective Licence regulations to mass Licensing not selective.
    Landlords are the losers , and the biggest losers are the tenants who have no where to live, and rental increases , so the Landlords can pay for all this.

  • Rik Fergusson

    The government want perfect homes for tenants but they dont appreciate not all tenants have perfect home cash.
    There are crappy tenants who can only afford crappy homes.
    If you wipe out all the average prs homes and legislate them into palaces you'll cut out all the poorer tenants who'll be left with unaffordable options.
    The government will probably then introduce some kind of rent control which will then result in a mass exodus of landlords on a scale never seen.
    Goodbye prs sector hello mass homelessness.

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    Build to Rent is the perfect example of this - too pricey for your average family with facities that 'young professionals' want (& perhaps are prepared to pay for) but not want most renters require.

     
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    Well I never. It’s almost as if the campaigning landlords who predicted massive rent rises and homelessness in 2015 were right all along! Who knew?!?!

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    The Govt never lets an inconvenient truth get in the way of policy!

     
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    Unfortunately most people are unaware of the Davos group's build-back-better plans for the world population. Many think it's conspiracy theory nonsense - it is not! Many also like the idea of digital currency. Sleepwalking to disaster and 2030 is 8 years away....

  • George Dawes

    You’ve hit the nail on the head , their aims seem to be crazy and they are

    Sadly they’ll more than likely come to pass ..

    Then we’ll see who the truly crazy ones are

  • George Dawes

    Lining up for a digital ID and a social credit score …

    Like lambs to the slaughter , except most lambs have a smidgen of common sense

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