More landlords are selling their properties than those buying, new research has highlighted

The data from Pegasus Insight says across England and Wales 19% t of landlords said they sold property over the previous 12 months – significantly more than double the eight percent who purchased properties over the same period.

The National Residential Landlords Associationm (NRLA), which commissioned the research, says landlords revealed that 80% of them reported higher demand for properties during the third quarter of this year, and that that this will mean many tenants will struggle to find homes to rent.

Looking to the future, some 40% of the landlords canvassed said that over the next 12 months some 40 per cent of landlords said they planned to sell at least some rental properties, compared to just six per cent saying they would buy.

Bad news

The NRLA warns that, for the vast majority of tenants, landlords selling properties spells bad news, compounded by the ongoing financial pressures on landlords from higher mortgages rates and the extra stamp duty they must now pay when buying BTL homes.

Ben Beadle (pictured), Chief Executive of the NRLA, says: “Tenants the length and breadth of the country know that there are not enough homes to rent. Rather than seeking to tackle it, the Government is instead doubling down on policies that have caused the chasm between supply and demand to widen in the first place.

“Whilst landlords selling up might benefit a minority of tenants in a position to afford a home of their own, the vast majority will face a growing struggle to access rental homes.

“It’s time for a change of course. We need policies to support the provision of more decent quality homes for private rent alongside all other tenures.”

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