Agency claims no new exodus of landlords – at least yet

Agency claims no new exodus of landlords – at least yet


Todays other news

Agency group Lomond says the number of tenanted properties being listed on the sales market has fallen by nearly 20% since the end of June.

It claims this indicates that Labour’s Renters’ Rights Bill has not yet resulted in a mass exodus of landlords.

Lomond has analysed the number of residential properties that have come to the UK sales market with tenants still in situ in September 2024 and compared this to the number that came to market in June 2024.

The data reveals that last month, some 10,041 properties with tenants still in situ were listed on Great Britain’s housing market. This is 19.2% fewer than the 12,423 properties listed in June.

In the West Midlands there are currently 600 properties with tenants in situ listed on the market, a drop of  54.7% compared to June’s number of 1,324 properties. In the East of England the number is down 50.8% since June; and in the North East it’s down19.8%.

A Lomond spokesperson says: “The real test will be the impending Autumn Budget at the end of this month, as we could yet see more changes that impact the financial returns of Buy to Let investors, with Capital Gains Tax looking the most likely shake up on the cards.”

Substantial data, particularly from Hamptons, suggests many thousands of landlords have left the sector in recent years in response to lower returns and increasing regulation promised under the past Conservative and current Labour administrations.

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