Landlords are offloading around 3,800 properties a month
The UK is awash of landlords from accidental ones to those owning portfolios of 100’s. The landlord business has in the past been fairly lucrative though recent times this sector has been hit with many additional costs such as stamp duty surcharges. The sector is said to be worth £239 million though is it about to burst?
A flood of property to market will for sure further cause price reductions and turn the market to a buyers one where currently many are holding back from purchasing as prices continue to fall.
For many years rental figures have been increasing and agree or not with the system, has been a pretty financial gold mine for landlords as rental prices increase along with property values – Now the tide might be changing as property prices are falling and a report in a national news outlet just yesterday led with ‘Rents across Britain fell in 2018 for the first time in a decade‘.
As figures no longer stack up for landlords, could there be a further dip in property prices throughout 2019 as more property comes on, choice increases, back log hikes up and the only way to engage buyers is to reduce the asking price? The full article can be read on the Daily Mail website.