Second poll in two days shows huge exodus of landlords

A record number of landlords – now fewer than 88% – have no confidence in the current private rental sector, a figure that increases to 90% in London.

The data comes from flat sharing website SpareRoom, which says that its survey shows over a third (34%) of landlords planning to leave the sector altogether this year, spelling a stark reduction in long-term rental supply and higher costs for tenants.

Almost one in three (29%) landlords plan on reducing the size of their portfolios this year, while 4% prepare to switch their property to a ‘short-term holiday rental’. In London, this is more acute, with 42% of landlords claiming they plan to exit the market in 2025.

The primary reason for the lack of landlord confidence is due to the upcoming Renters’ Rights Bill which had its second reading in the House of Lords this week.

Many are concerned about the end of Section 21 – the right for a landlord to issue a no-reason eviction. The reduction in profitability in the current market as well as the newly increased capital gains tax is also proving to be a sticking point.

Read the full article at Landlord Today