Latest research shows that 380,000 landlords are expected to put their properties on the market next year, risking a market flood.
According to a report by the National Landlords Association (NLA), 45 per cent of those landlords looking to sell property plan to release individual flats and apartments onto the market, and a third intend to sell terraced houses.
The market flood could be good news for first time buyers, but bad news for those who wish to rent.
Commenting, Richard Lambert, Chief Executive of the NLA, says: “These findings sound like positive news for potential new homeowners, but the reality is not everyone wants, or is in a position financially, to buy.
“In fact, if all these homes are sold as planned, then it will lead to a significant fall in the supply of property available to those who choose to rent or have no other option but to rent.”
Separate figures published in April by Ludlow Thompson show that the number of UK buy-to-let investors has hit an all-time high of 2.5 million, an increase of 5 per cent on 2017 and a 27 per cent rise over the past five years.
At Beavis Morgan, we have extensive experience in advising individuals and businesses on all aspects of the property market. We act for a broad range of property investors and developers who actively need advice on how to best structure their property deals, both to ring-fence and protect their property assets, as well as to minimise the tax arising from their business operations.
We also offer specialist services to identify business opportunities for overseas investors looking to enter the UK property and business markets – and we provide a comprehensive range of professional services to help you make the most of your investment in the UK.
To find out more, contact Steve Govey or your usual Beavis Morgan Partner.