2017 will see higher rents and fewer available homes, claims ARLA

Tax hikes are destroying landlord confidence

The Association of Residential Letting Agents (ARLA) has predicted that 2017 will see both a fall in the number of homes being made available to let and higher rents. The association’s managing director, David Cox, has said that the reduction in available properties will be down to changes in stamp duty tax, whilst higher rents will come about due to reduced supply and attempts by landlords to recoup monies lost through changes to mortgage interest tax relief and an expected ban on letting agent fees applied to tenants.

He also criticised the government’s targeting of the private rented sector, suggesting that it was an attempt to cover its own failure to build the number of homes the country needs.

 

Full story available from LettingAgentTODAY: https://www.lettingagenttoday.co.uk/breaking-news/2016/12/2017-will-see-fewer-homes-to-let-and-higher-rents-claims-arla

 

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