2017 could see a decline in the private rental sector, survey finds
18th April 2017 11:21 - Housing
2017 could see a decline in the private rental sector, survey finds: According to the National Landlords Association (NLA), the private rental sector in the United Kingdom could be set to decline, as property sales to existing landlords are forecasted to outstrip purchases by the end of 2017.
The National Landlords Association’s warning comes after the latest English Housing Survey revealed that the private rental sector plays an increasingly important role in the UK’s housing mix, at a rate of 20 per cent.
When exploring the property transaction of National Landlords Association members, it was seen that net growth (property purchases minus sales), has decreased by 63 per cent.
The market research by the National Landlords Association also revealed that the percentage of existing landlords looking to purchase properties in the next 12 months has decreased to its lowest ever point (16 per cent) and the number of existing landlords who expect to sell property in the next 12 months has more than doubled since July 2015 from 7 per cent to 16 per cent.
These figures represent the lowest stated expectations for landlords to invest since the National Landlords Association’s quarterly landlord panel began 10 years ago and the National Landlords Association is now forecasting a net reduction of property transactions by 2018.
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