Agents concerned about landlord exodus

Agents across the UK are increasingly concerned about landlords exiting the sector, Goodlord found in its Vouch State of the Lettings Industry report.

Three in 10 (28%) of agents surveyed have seen more than 10% of their landlords leave the sector in the past year.

Meanwhile two thirds (67%) said they expected more of their landlords to leave in the coming year.

It’s become a challenging environment for landlords in the past decade, with the 3% stamp duty surcharge and removal of mortgage tax relief being some of the changes which have served to dampen down investment.

Given that landlords are exiting the sector, two-thirds of agents (65%) struggled with a lack of stock in the past year.

Tom Mundy, chief operating officer at Goodlord, said: “The upcoming State of the Lettings Industry report is our biggest and most in-depth to date.

“As the initial findings show, there are a range of things causing serious concern across the sector.

“Whilst the pace of lettings remains intense and the market buoyant, various macroeconomic and regulatory factors are cause for concern.

“Although these are yet to materially dent optimism amongst agents, landlords and tenants.

“We hope that the full report released on the 13th will provide a range of useful insights to the market at a time of increasing uncertainty for all stakeholders.”

Most (80%) agents are concerned about the state of the economy, the impact of the upcoming recession and the cost-of-living crisis on the Private Rental Sector.

Many are predicting a rise in arrears, with 35% of agents saying they expected the cost-of-living crisis to have a “major and negative” impact on tenants.

Comments 1

  1. Luckily us landlords all being rich, are unaffected by the cost of living crisis. However, as a cost saving measure I have made a sacrifice and turned down the heating (in my servant’s quarters!)

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