11:00 AM, 31st May 2018, About 4 years ago 7
ARLA Propertymark April Private Rented Sector (PRS) report.
Landlords selling their buy-to-let
Demand from tenants
Supply of rental stock
David Cox, ARLA Propertymark Chief Executive, said:
“The barrage of legislative changes landlords have faced over the past few years, combined with political uncertainty has meant the BTL market is becoming increasingly unattractive to investors.
“Landlords are either hiking rents for tenants or choosing to exit the market altogether to avoid facing the increased costs incurred. This in turn is hitting renters most, at a time when a huge number of people rely on the rented sector, and leaves us with the question of where will these people find alternative homes?
“As demand for private rented homes massively continues to outstrip supply, the Government can no longer divert its attention from the broken housing market. The recent news that the Government is regulating the industry is a step in the right direction, but ultimately we just need more homes.”
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