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Add PropertyTenants struggle as landlords sell up in face of taxes and red tape
Private sector tenants are continuing to struggle as new data highlights an ongoing shortage of homes to rent.
No fewer than 77% across England and Wales reported strong demand from prospective tenants in the final quarter of 2024 according to research from Pegasus Insights.
The data, compiled for the National Residential Landlords Association (NRLA), suggests demand is highest in South West England. 81% of respondents in the region reporting strong demand. This was followed by 80% who said the same in the South East and the North West.
Despite strong tenant demand, across England and Wales, 20% of landlords said they had sold property over the previous 12 months. This was almost three times more than the 7% who said they had purchased new properties to rent.Looking ahead to the next 12 months, 41% of providers of rental housing say they plan to cut the number of properties they rent out, compared to just 5% saying they will increase the number.
The figures follow government data which show that selling property is the single biggest reason for bringing a tenancy to an end, and almost three times bigger than the next most common reason.
Read the full article at Landlord Today
