Number of landlords in the UK increases – claim

Number of landlords in the UK increases – claim

11:06 AM, 5th September 2022, About a month ago 1

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Despite the Government’s best efforts, the number of landlords within the British rental market has climbed by 2.4% since 2016/17, research reveals.

The findings from Total Landlord Insurance, who examined a Parliamentary answer, show that:

  • There are nearly 2.6 million landlords – a 2.4% increase over the last three years
  • London is not only home to the most landlords at 463,200 but has also seen the largest increase since 2016/17 – up by 8.4%
  • The East of England (4%) and the South East (3.4%) have also seen some of the largest uplifts in landlord numbers
  • The South East is also home to the second highest number of landlords at 459,410.

Landlord numbers in Wales fall

But not every area has seen this figure increase with landlord numbers in Wales falling by 3.9% in the last three years.

The South West has seen a decline of 1.5%, with the North East (-0.6%) and Scotland (-0.3%) also seeing their landlord numbers decline.

London has also seen some of the largest increases in landlord numbers at local authority level.

The City of London has seen a 37% increase in the number of landlords since 2016/17, with Barking and Dagenham home to the second highest increase at 20%.

Area with largest increase in its landlord population

Outside of London, Slough has seen the largest increase in its landlord population, also up 20%.

Newham (16%) and Thurrock (16%) also rank within the top five where the largest increase in landlord numbers.

However, in Pembrokeshire, the number of operational landlords has declined by 13% since 2016/17, along with Allerdare and Gwynedd.

Ceredigion (-12%) and Scarborough (-12%) have also endured some of the largest declines in landlord numbers.

‘Nation’s landlords have been served up an unsavoury cocktail’

Steve Barnes, an associate director at Total Landlord Insurance, said: “In recent years, the nation’s landlords have been served up an unsavoury cocktail with regard to restrictions to income tax relief, buy-to-let stamp duty increases and changes to capital gains tax.

“Despite this, the number of landlords has not only remained robust across Britain, but we’ve actually seen an increase which is proof, if it were ever needed, that property remains a very attractive investment.”

He added: “Of course, this hasn’t been the case completely across the board and some areas have seen a notable decline.

“Unfortunately for tenants in those areas, this decline in rental investment will only limit the options available to them, driving up the cost of renting in the process.”



Comments

TheMaluka View Profile

10:20 AM, 6th September 2022, About a month ago

It's not the number of landlords which counts rather the number of properties.

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