Landlords have been selling more homes than they bought in every year since 2016 when a raft of tax and regulatory changes were introduced.
Confirmation of this has come from lettings agency Hamptons which estimates that by the end of 2023, individual landlords will have sold 294,300 more homes than they’ve bought since 2016.
That’s more than the total number of homes in Manchester or Cornwall.
And Hamptons says that while institutional investment in the private rented sector through Build To Rent schemes will have filled some of the gap left by private landlords, overall there were 43 per cent fewer homes available for tenants to rent in the first 10 months of this year compared to the same period in 2015.
Hamptons adds that so far this year private landlords accounted for 14.0 per cent of all sellers in Britain. In number terms, this means that landlords sold 103,130 homes between January and September this year.
If this pace continues and a total of 1m sales of all properties take place across Britain this year, private investors are set to sell 139,820 buy-to-lets in 2023. That’s 53,240 fewer than in 2022 and 61,810 less than in 2021 when landlord sales peaked.
Despite this fall, landlords are still selling more homes than they’re buying.
So far this year landlords purchased 11.2 per cent of all homes sold; so apart from the Covid market closure during the first nine months of 2020, landlords will have bought the fewest number of homes in any year since at least 2010 when Hamptons records began.
Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.
Landlords pulling out of buy to let because of high costs...
.png)
The average home in England and Wales bought within the last...
It’s the number of homes changing hands rather than their price...
New buy to let purchases are increasingly being funded by cash...
The vast majority of tenants are unaware of new laws introduced...
Despite the recent tax crackdown, buy-to-let continues to look an attractive...
The property market had enjoyed a boost thanks to the outcome...
There wasn’t much by way of good news in the Spring...
National Landlord Investment Show has announced that the former Leader of...
Twenty twenty-four is a pivotal year for landlords in the Private...
The management of BTL properties, whether it's a modest collection of...
We are thrilled to report that the first National Landlord Investment...
If interest rate rises weren’t enough to drive landlords out the...
Landlords play a crucial role in providing safe and comfortable housing...
.jpg)
Calling all landlords, Investors and property professionals: National Landlord Investment Show...
A recent survey by digital mortgage lender, Molo, revealed that nearly...
In the buy to let market, success goes beyond the transaction...
Mohammed Sharaz, a landlord from Bradford, recently seized an opportunity to...
We believe a well-functioning housing system is one that meets everyone’s...
It’s not just the weather that’s wet and dreary – the...
As the ‘big buy-to-let’ sell off gathers momentum, we take a...
The challenges facing the property market right now are well reported;...
If you are a landlord looking for the silver lining in...
This year is set to bring sweeping rental reforms that will...
Landlords are exiting the market in droves. According to an accountancy firm...
%20(002).png)
Newable Finance, the finance brokerage & advisory arm of Newable, launches...
As landlords continue to exit the market, there seems to be...
Homes in the rental sector are more likely to have old...
A council has prosecuted a landlord for letting out two HMOs...
The Labour-led government in Wales has issued a consultation proposing the...
Another council is looking for landlords with rental properties to match...
Another council is looking for landlords with rental properties to match...
.png)
Landlords and renters’ activists are at either end of the spectrum...
A prominent lettings sector expert is blaming the media for anti-landlord...
Who are you and what does it say on...
Who are you, and what does it say on...
Who are you? I am the Head of Broking for...
Join the conversation
Jump to latest comment and add your reply
ENOUGH IS ENOUGH
BTL IS NO LONGER A BUSINESS ITS JUST GRIEF.
The Government and Councils will not enjoy this but who else wants it?
Interference and Taxation that doesn’t apply to other businesses.
Bye Bye BTL.
A very accurate critique of our current position 🫣🫣 Labour will finally finish us off ☠️☠️
But but but .... didn't the Treasury say that S24 wouldn't have any effect on supply or rent levels. Or maybe they just lied!
While I don't dispute the figures given by Hamptons, they don't correspond with figures supporting S21 abolition that there are now more rentals than there were in 2019.
Wish I had English Housing Survey data showing numbers of rentals available at each survey year over say the last 5 years.
Perhaps LLD Today/ Graham Norwood might, or could get these to write an authoritative article on the situation.
What Hamptons say, and the Yorkshire Building Society survey reported last week on LLD Today, both go against what the Conservative Home writer said about S21 abolition being okay (also reported on LLD Today last week).
Out of the three of these sources, I know which it most likely to be politically biased in favour of the RRB.
If govt. make an investment less attractive, fewer people will hold on to that investment, or be attracted to join it. I think any articles stating PRS is growing must be taken with a pinch of salt and this report proves it. You simply can’t buck the market. Why would PRS be any different?
Please login to comment