Landlord sale could put half a million homes on market
Landlords list a number of reasons for selling up (pic: Terry Murden)
One in four landlords plan to sell at least one property this year, potentially putting over half a million homes up for sale, according to new research.
A survey of 800 landlords revealed that with uncertain market conditions, fourt- fifths (82%) of landlords are not planning on buying any more properties in 2020.
Just one tenth (13%) said they would buy another property this year, while a third (35%) also reported a decrease in their rental yield in 2019, according to the study by landlord insurance provider Simply Business.
The top reasons landlords gave for wanting to sell are tax increases, rising rental costs, cashing in on their investment, economic instability and slowing house price growth (4%). This comes after a third also reported a decrease in their rental yield in 2019.
Looking ahead to this year, more than a quarter (27%) of landlords expect to see a further decrease in their rental yield in 2020.