The trade association says 12% of private rent landlords sold properties in a three month period this year.

Private rent landlords are more than twice as likely to sell properties than make a purchase, according to new research from NRLA.

More than one in 10 (12%) of landlords in England and Wales sold properties in Q2 this year while only 5 per cent purchased properties during this same period, the findings reveal.

Researchers also found over a third (37%) of landlords plan to cut the number of properties they let over the coming year.

ALL TIME HIGH

This means that the proportion of landlords who plan to downsize their portfolio is at an all-time high.

Only 8% said they plan to increase the number of properties they let in the market.

The loss of rental properties comes despite strong demand from tenants. Two-thirds (67%) of landlords polled reported that tenant demand had increased in the second three months of the year.

SUPPLY CRISIS

The NRLA warns that the supply crisis will only deepen without urgent action from the Government, with the mortgage crisis and PRS reforms making the situation worse.

It calls for ministers to scrap tax changes such as the 3% stamp duty levy on the purchase of homes to rent out, as well as the decision to restrict mortgage interest relief on long term homes to rent.

“The lack of assistance for renters and their landlords is clear for all to see”
Ben Beadle, CEO at NRLA (main picture), says: “Whilst the Chancellor has developed a mortgage charter to help homeowners, the lack of assistance for renters and their landlords is clear for all to see.

“Households renting privately are facing the full force of the supply crisis, and change is needed now to prevent the situation from worsening over the next 12 months.”

The research consultancy BVA-BDRC conducted 983 interviews online in July with NRLA members in England and Wales.

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