Trend shows Landlords exiting rental market due to rising costs, what does this mean for rentals? 💹
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According to Rightmove, there are a record number of former rental homes listed for sale... 🤔
🔸 Growing trend of Landlords choosing to leave the rental sector due to rising costs, taxes, and changes to legislation
🔸 Right now, almost 1 in 5 (18%) homes currently for sale were previously rented out, compared with just 8% back in 2010
🔸 But this is a national average, in London 29% of stock for sale has previously been rented out!
🔹 Despite trend of Landlords selling up, it doesn’t appear to be a mass exodus
Let's not forget, these properties may be purchased by other Landlords and put back into the rental market 🪃
🔹 This would signal a changing of the guard rather than a complete exit from Landlords
🔹 What does this all mean for the rental market?
🔹 Analysis of the data suggests that the supply/demand imbalance will set to remain into 2025, supporting a continued growth in rents throughout next year
🔹 In any case, we hope the government is considering ways it can help Landlords and the Private Rented Sector ahead of the Autumn Statement
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#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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