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Landlords can now be “incredibly choosy” says leading analyst

A prominent business analyst says the great rental sell-off leaves remaining landlords in a powerful position.

Sarah Coles, head of personal finance at consultancy Hargreaves Lansdown, says that “for those trapped in the rental market, there’s no let-up in the relentless squeeze.”

She says latest figures from the Royal Institution of Chartered Surveyors shows yet another month of growing demand and dearth of properties to rent, which is pushing rents higher.


“Agents say landlords are leaving in droves – not just because of increasing tax and legislation, but because rising mortgage rates and the cost of maintaining the properties just doesn’t add up for an awful lot of them now. 

“Even for those with enough cash to cover their rent, the shortage of properties mean landlords can afford to be incredibly choosy. 

“It means anyone living on a fluctuating income, renting while they study, or carrying a less-than-perfect record for rental payments can be fighting a losing battle to find a home.”

On the sales side, based on the latest RICS figures, Coles says any renter considering buying with the new much-hyped Skipton Building Society must factor in possible risks.

She comments: “Demand has now fallen every month for the past year, and with sales dwindling and house prices dropping, it’s proving more difficult to shift properties. 

“It’s taking almost 20 weeks from first listing to final completion, as cautious buyers guard against hasty decisions.

“These figures are far more negative than those from Zoopla which noted a bounce around Easter as sales picked up. RICS hasn’t seen the same rises, and estate agents remain pretty miserable about the prospects for the immediate future too.”

She believes that while most of the respected indices still show house prices hanging onto gains over the past year, the monthly figures are less cheering. 

“There’s still every chance prices could continue to fall from here. It means anyone considering getting a mortgage with a small deposit – or even a 100 per cent mortgage – needs to think very carefully about how they would cope if prices fell and pushed them into negative equity.”

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  • icon

    The Skipton mortgage is a non starter for most - the rental calculation will generally only allow renters to buy a much cheaper house than they are renting & the interest rate is high.. I can't see the uptake being more than modest.

    • B L
    • 12 May 2023 11:38 AM

    Not only that, what about if the property value drops and one gets into negative equity? Their interest rate is too high for a residential mortgage.

  • icon

    Incredibly choosy they say 😂😂 this has been my business model from day one 👍🏻 And to date I have had zero problems, anyone wishing to rent one of my properties has to be Gold Standard 🏅, I have decided to leave a property empty before taking a tenant the agent recommended….. they work for us, not the other way round 🤐. Tough times ahead.

  • icon

    Who is Simon J Foster a Private Landlord I presume congratulations you done very well.
    Where was our Landlord Associations why didn’t they not sponsor the Petition to scrap S.24 and stop the scrapping of S.21.
    I wasn’t interested when there was no Petition to Retain the Remnants of S.21.

    • B L
    • 12 May 2023 12:07 PM

    Isn't that so unbelievable our society is encouraging people to take something from others regardless they own it or not ! This is definitely wrong in the sense of right and wrong, in the sense of integrity and virtue! Where is the society going today! Or is it irrelevant in today's life! To ban S.21 will be a guarantee of another chaos.

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    As previously said on here putting the Customers in Charge of the Owners Business is a recipe for Disaster, probably one for The Guinness Book of Records.

    • B L
    • 12 May 2023 12:47 PM

    When it comes to politics, it is not about right or wrong, it is about which side you are on. Let's hope our government is better than this. In Spain, gypsies can squat in empty houses and police couldn't remove them from the premises.

  • icon

    A case of having to be choosy now too many rogue tenants out there looking for trouble

  • PossessionFriendUK PossessionFriend

    I can't believe the Govt don't realise how much this will hurt TENANTS, and those most in need.


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