Number of London rental properties drops by 21%

benefits squeeze increasing risk of homelessness
A freeze on LHA rates means that in the majority of cases the allowance is not enough to cover the cheapest rents.

An exodus of landlords from London has been revealed with the release of Countrywide’s monthly rental index. The stock of rental properties within the private sector dropped by 21% in London compared with a fall of 4% across the UK.

Rental stocks in four UK regions are still on the increase with Wales showing a growth of 13%, the West Midlands 12%, the North East 6% and the South East 5%.

The report also reveals that the ratio of homes bought by landlords during 2017 as a percentage of the total market dropped to a nine year low of 12.5%, compared to 14.7% in 2016 and 16.3% in 2015.

 

Full story available from The Negotiator: https://thenegotiator.co.uk/landlord-exodus-revealed-stock-london-rental-properties-drops-21/

 

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