Poll
BTL listings climb 7%
Almost six in 10 UK towns and cities saw an increase in the number of rental properties coming on to the market last month, according to new research.
Figures released by crowdfunding platform Property Partner revealed a 6.8% rise in new buy-to-let (BTL) listings during November, marking the second consecutive month of growth.
Bristol and Southampton experienced the largest boosts with 162.7% and 108.2% more new rental properties than in the previous month respectively.
By contrast, Derby, Rochdale and Sheffield reported a 33.4%, 27.6% and 24.1% drop respectively, while London also suffered a 1.2% drop in new rental listings.
Dan Gandesha, founder and CEO of Property Partner, said: "It has been another encouraging month for prospective tenants on the hunt for new rental properties.
“In some towns and cities, it even appears to be a renters’ market.
“While many aspire to own, the demand for rental accommodation is set to grow, with increasing numbers choosing to rent due to a lack of affordable housing for potential buyers.”
Despite this positivity, Dan warned that the future of BTL was far from guaranteed.
“With the private rental sector almost doubling in the past decade, and one in five households in England now in private rented accommodation, it’s vital to ensure good-quality homes which are professionally managed.
“But the flipside is that many landlords are feeling the financial squeeze due to recent tax changes and stricter lending criteria.
“Imminent cuts in mortgage interest tax relief may just make it impossible to make ends meet, particularly in London and the South East, resulting in many buy-to-lets being sold and a knock-on effect of reduced rental supply in the future.”
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