Landlords now twice as likely to sell than buy

A survey for the National Residential Landlords Association reveals landlords are now twice as likely to sell property than they are to buy due to high taxes and red tape. Some 12% of landlords have sold properties in the three months to June, but only 5% made new purchases, it said. Meanwhile, 37% said they were planning to reduce the number of properties they let in the coming year – the highest proportion on record – while only 8% said they planned to increase the size of their portfolios. Ben Beadle, chief executive of the trade body, warned that the supply crisis in the rental sector would worsen if the Government did not take action. “The Government must reverse its damaging tax hikes on the sector,” he said. “It is frankly absurd to have a tax system that punishes landlords for providing the homes tenants so desperately need whilst favouring holiday lets.” 

The Daily Telegraph (19/08/2023)