Twist or bust? The dilemma facing UK landlords after Labour win
2 years ago | 23 comments
Landlords say election result will make no difference to plans
12:02 AM, 8th July 2024, 2 years ago
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Most landlords in the UK say that the election result which saw Labour enjoy a landslide victory won’t affect their investment plans, a survey reveals.
Foxtons questioned more than 1,000 landlords before the election and found that 59% of landlords expect a new Labour government won’t have an impact on their decision to either expand or sell their portfolios.
However, landlords say the private rented sector (PRS) doesn’t enjoy any support from the major parties.
Labour doesn’t support the PRS – landlords
Only 9% strongly agreed that the Conservatives support the PRS, while 28% slightly agree.
Perceptions of Labour’s support are even lower, with 7% strongly agreeing and 14% slightly agreeing.
The managing director of lettings, Gareth Atkins said: “Our survey indicates that a considerable number of landlords are concerned about the implications of legislating against market rent with the majority of landlords thinking it will have the potential to disrupt landlord calculations.”
Landlords will continue investing
He added: “Overall, it seems that most landlords will not be altering their approach to investing in, owning and renting their properties.”
When asked what changes landlords would like to see in the PRS, an increase in the supply of social housing so low-income and homeless households do not have to rely on the PRS was ranked the most important by 30% of landlords.
Reform to land developments was ranked as least important.
Tags:
Election Impact, Foxtons Landlord Survey, Gareth Atkins Lettings Director, Labour Government Landlords Impact, Landlord Investment Plans, Landlords, Landlords on Election Result, Real Estate, rental sector, Social Housing Supply UK, UK Private Rented Sector Support, UK Property Market
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Member Since July 2016 - Comments: 155
10:24 AM, 8th July 2024, About 2 years ago
Pointless survey really because no one yet knows what Labour’s plans are. If the new housing minister decides that you can’t sell your property before a tenant departs, for example, then I suggest it will have a huge impact on landlords’ investment decisions.
Member Since December 2023 - Comments: 1574
12:46 PM, 8th July 2024, About 2 years ago
The election result should make little difference because any landlord with an ounce of common sense will already have planned for a Labour government.
Member Since April 2024 - Comments: 94
2:43 PM, 8th July 2024, About 2 years ago
Apparently, despite Labour’s big win, most landlords aren’t too worried about it affecting their investment plans. Foxtons found that 59% of landlords don’t think a new Labour government will change their decision to expand or sell their portfolios.
Seems like landlords across the board feel unsupported by the major parties when it comes to the private rented sector (PRS). Only a small percentage think either Labour or the Conservatives really back them.
One interesting point was landlords’ concern about potential rent control laws disrupting their financial calculations. They seem pretty steadfast in continuing to invest and manage their properties as usual, regardless of political changes.
It’s clear they want more focus on increasing social housing rather than changes to land developments, which they see as less important. It’s a complex issue, balancing market dynamics with social needs.