Tenant demand growing
According to research carried out by The National Landlords Association it shows tenant demand remains strong, with four in 10 landlords reporting an increase in the areas where they operate.
They stated that tenant demand continues to be largely seen as either stable or increasing in the areas where they operate in the last three months, although there are variations by region, on average 40% of landlords have seen an increase..
The research revealed that the East of England saw the biggest net growth in tenant demand with a 48% increase. This was closely followed by the South West – with 45% increase – and the South East and Outer London – with 41% and 40% respectively.
Carolyn Uphill, Chairman, NLA, said:
“These figures demonstrate just how important the private rented sector is in housing a growing number of people.
“Our research indicates that five per cent of landlords will sell up following the Government’s plans to remove mortgage interest relief for landlords, which could affect some 600,000 tenancies**.
“The Government’s planned changes, which will be phased over a period of years, gives landlords effected time to review their finances, but some will still be forced to sell or trade at a loss which is unsustainable and the projected impact will mean that ultimately renters will lose out as a dwindling stock drives up prices and competition for homes.”