Savills says some 120,000 buy to let mortgages have been redeemed since the launch of the additional homes stamp duty surcharge over three years ago - suggesting most of these landlords have quit the sector.
The assertion, based on Savills’ analysis of mortgage data from trade organisation UK Finance, has done little to dent the dominance of buy to let as the main provider of private rental accommodation, however.
The agency says that Build To Rent still provides less than one per cent of the private rented accommodation in the UK.
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I wonder why they've assumed the overall PRS size of 5.2 million households will remain the same over the next 10 years.
I wonder how long it’ll be before L&G and all the BTR corporates are getting protests outside their offices about their ‘disgusting corporate fat-cat rents’ and that there’s ‘no choice in the PRS anymore - just tiny square stack-em-up boxes’. Will that be the scene within a decade, do you think??
Wonder how the big corporates might react to rent controls with a potential Corbyn Govt!?
Would somewhat undermine their business model!!
Their investors must be made of strong stuff to believe there is no risk of rent controls which inevitably must mean reduced shareholder dividends.
For those who want proper rental properties they will have to move out of large conurbations to then commute to where the work is.
Commuting is the only way to afford proper rental properties.
Those not prepared to commute will have to accept renting little boxes etc............choices; choices!!
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