Hunters Estate Agents have taken the unusual step for a public company of criticising the government - in this case over Chancellor George Osborne’s recent tax changes for buy to let landlords.
Glynis Frew, managing director of Hunters Property Group, says she hopes the strongly anticipated consultation process by the Treasury about buy to let mortgages does not end up curbing the market further.
“Landlords as a whole are being portrayed as greedy investors who are looking to take advantage of tenants. This is simply not the case - the majority of landlords actually own one buy to let property and are your typical average Joes” says Frew.
“Such financial burdens will inevitably lead to a further rise in rents, as landlords will have to compensate for the extra measures somewhere” she predicts.
Frew also says politicians should look elsewhere for apparent causes of problems in the wider housing market.
“The basic problem is and remains the lack of homes. If the successive failure to build new homes was rectified this would reduce prices and thus satisfy the need of those first time buyers wanting to get onto the property ladder; help second time buyers move up and bring properties into the rental sector. The issue is still supply and demand” she insists.
Hunters’ founder, Kevin Hollinrake, was this year elected as a Conservative MP.