An encouraging new survey suggests that 40% of landlords reported an increase in tenant demand during the last three months.
Regional rises
A survey by the National Landlords Association indicates that the East of England saw the largest net growth in tenant demand, with a 48% increase. This was followed by the South West (45%), the South East (41%) and Outer London (40%) respectively.
In addition, research found that just 6% of landlords on average reported a decrease in tenant demand during the last three months.
Landlords in the North East reported the highest net decrease in demand in all regions, with a 15% fall. Wales and Yorkshire recorded a 12% drop, while the North West posted an 11% dip.[1]
Selling
Carolyn Uphill, chairman of the National Landlords Association, said, ‘our research indicates that 5% of landlords will sell up following the government’s plans to remove mortgage interest relief for landlords, which could affect some 600,000 tenancies.’[1]
‘The government’s planned changes, which will be phased over a period of years, gives landlords 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,’ Uphill added.[1]
[1] https://www.lettingagenttoday.co.uk/breaking-news/2015/10/tenant-demand-up-across-most-of-uk-survey-reveals