Private rental sector continues to grow amid buy-to-let market uncertainty

The proportion of privately rented homes has fallen below 20% of all tenure types for the first time in three years, despite the number of rental properties actually increasing.

Government housing data shows that 19.9% of dwellings in England were rental properties in the year to March 2018.

This was down from 20% in 2017, 20.4% in 2016 and 20.4% in 2015.

However, despite the proportion decreasing, the amount of rental properties still increased by 10,000 between March 2017 and March 2018, the Government figures show.

This is despite ongoing concerns about landlord exits amid extra Stamp Duty charges and the withdrawal of buy-to-let tax reliefs.

Meanwhile, the proportion of owner-occupied dwellings increased for the second year in a row, increasing by 226,000, and representing 62.8% of all stock.

The total property stock in England as of March 2018 was 24.2m.

Of this, 15.3m were owner-occupied, 4.8m private rented, 2.5m rented from housing associations and 1.6m rented from local authorities.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/803958/Dwelling_Stock_Estimates_31_March_2018__England.pdf

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5 Comments

  1. Will2

    Really?  Abolition of s21 will sort that then.

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  2. seenitall

    We are seeing more of our landlords as self funded BTL  – ie they have no mortgages on the property having inherited it or the money and then purchased somewhere outright to let out.      They are generally looking at a long term “pension”   want long term tenants and modest capital growth.

    With the change/removal of s21    it doesn’t really impact these LL and as other have posted before most LL want long term tenants and don’t kick them out on a whim.   So the grounds of breach of tenancy or sale or occupation are going to be the main ones an owner uses in the future.     These tend to be steady, secure landlords with little debts.

     

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    1. PossessionFriendUK39

      No Landlord…  ‘ kicks Tenants out on a whim ‘

      that’s Tenant support group nonsense pedaled and jumped upon by the Government

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    2. Woodentop

      Have to ask the question, when they do get stuffed by a rogue tenant costing them £k’s, what has history taught us about these same landlords and how are they going to get them out under a regime they have never experienced? Todays landlords have a wake up call coming. Once bitten, twice shy!

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    3. Will2

      Seenitall,  you would be right on the basis of s24 tax attack.  There seems to be a problem in the property profession not really comprehending the seriousness of S21 abolition. Too many people are now too young to have seen the impact of the 1977 Rent Act.  This will result in people not being able to get their property back when they want to sell and tenants having security of tenure as they did under the 1977 Rent Act which killed the rental market stone dead. Everyone suffered there was no where to rent, you could not move for your job as there were no rental properties available. Just a few Company lets which were outside the Rent Act. Landlords often had bill for repairs costing more than the rent. Capital values down to about 40% with hope value that your tenant died so you could sell if the family did not have succession rights (many did).   The impact will be a massive reduction in capital values as investment property will only be saleable to another investor. Have a spell of a Corbyn type rent control and returns will be slaughtered and capital values could drop to 40% of Vacant possession prices. Your choice was you tried to purchase if you had a decent inclome. You lived with parents until you were in your thirties or if you were very luck you might find lodgings in a friends place.  The third choice was a council house/flat but even then they were far hard to get and that when there were a lot of socail housing units (now asset striped since Thatcher).  Tenants were stuffed, landlords were stuffed and guess what a housing crisis!!

      As for politcial parties they are all fools and do not understand basic economic.  The Conservatives have  viciously  and progressively attacked landlords and will loose any intelligent landlord as a voter. Labour would hang draw and quater landlords and the Liberals are no better. Communist UK here we come!

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