There is no evidence of a mass exodus of landlords from the sector despite the new regulations and slashed tax benefits of recent years.
That’s the view of the Belvoir lettings agency in its report forecasting trends in the sector in 2022.
Chief executive Dorian Gonsalves says: “The English Housing Survey reveals that buy to let grew significantly between 2002 and 2016, more than doubling in size to 20 per cent, falling slightly to 19 per cent in 2016. The market has remained at this level ever since.
“This is a good indication that despite everything thrown at landlords they have not left the sector, although new landlords have been discouraged from purchasing new properties, which means there is inevitably less availability of accommodation for tenants.”
He continues: “In the current market it is more important than ever for landlords to be encouraged to use the services of a reputable, professional property management agent. A good agent will help landlords to secure the best tenants for their property and ensure they keep up to date with changing regulation.”
A cross-section survey of franchisees across the Belvoir network reveals that half are experiencing a shortage in all types of properties, from one bed flats up to five-bedroom homes. There is some regional variation, but franchisees in most regions are predicting that there is little indication of any easing in the shortage of available properties.
Gonsalves predicts that rents will continue to increase at eight to 10 per cent for the rest of this year and will only fall back to previous lower levels of inflation if more landlords are encouraged to bring more properties to the market.
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