Buy To Let Investors Selling Properties
380,000 buy to let investors may be about to sell at least one property according to the National Landlords Association.
19% of landlords are considering selling an investment property.
This could be good news for first time buyers and the influx of new homes on the market may lead to lower house prices.
Richard Lambert (NLA chief executive) commented “These findings sound like positive news for potential new homeowners, but the reality is not everyone wants, or is in a position financially, to buy. In fact, if all these homes are sold as planned then it will lead to a significant fall in the supply of property available to those who choose to rent, or have no other option but to rent”
“Everyone seems to have a gut instinct about the extent to which they feel landlords and first time buyers compete for homes in the UK, but home ownership is a highly emotive issue so the facts are often overlooked. There’s certainly no denying that competition exists, but the significant barriers to home ownership are more likely to be the high cost of a deposit or ability to access mortgage finance.”