Private landlords twice as likely to sell properties than to buy

That’s the clear result of a survey by the National Residential Landlords Association. 

It says some 12 per cent of landlords in England and Wales sold properties in Q2 this year while just five per cent purchased properties during this same period.

The survey also found that 37 per cent of landlords plan to cut the number of properties they let over the coming year - a record high.

Only eight per cent said they plan to increase the number of properties they let.

The loss of rental properties comes despite strong demand from tenants. Precisely two-thirds of landlords reported that demand had increased in the second three months of the year.

The NRLA says that the supply crisis will only deepen without urgent action - and it wants ministers to scrap tax changes such as the three per cent stamp duty levy on the purchase of homes to rent out, as well as the decision to restrict mortgage interest relief on long term homes to rent.

NRLA chief executive Ben Beadle says: “Whilst the Chancellor has developed a mortgage charter to help homeowners, the lack of assistance for renters and their landlords is clear for all to see.

“Households renting privately are facing the full force of the supply crisis, and change is needed now to prevent the situation from worsening over the next 12 months.”

Polling group BVA-BDRC undertook 983 interviews online in July with NRLA landlords in England and Wales.