Confidence of UK landlords has dropped by almost a third in a year from 67% to 43% – lower even than at the time of the global financial crash, according to the leading professional body, the National Landlords’ Association (NRA).
Buy-To Let (BTL) landlords are so distraught by the conditions in the sector that more than 500,000 rental properties are set to be sold in the next 12 month, with around 100,000 properties offloaded by landlords every year until 2021, Chief Executive, Richard Lambert has warned.
Property portal, TheHouseShop.com, which has just celebrated its first anniversary and is planning to launch a dedicated landlord section, claims to be the UK’s first “inclusive” property portal working with both estate agents and individual homeowners. Estate agents can list all of their properties on TheHouseShop.com, free of charge, while DIY sellers and private landlords can market their homes on the portal themselves for a small fee.
Nick Marr, Co-founder of TheHouseShop.com, tells OPP.Today confirms that UK landlord confidence is low. “With private rents predicted to rise 7.5% annually over the next 18 years and a pro-business Conservative government, I think many landlords believed that they were entering a golden age of Buy-To-Let investment. However recent changes to regulation of the rental market have left landlords feeling targeted by the Government, and many are re-examining their investments.