New data reveals that 20% of landlords across England and Wales have sold property during the last 12 months, almost three times more than the 7% who had bought new homes to rent.
Letting agents have reported that institutional and portfolio landlords are moving in to buy stock from exiting landlords.
The landlord exodus is a once-in-a-generation opportunity for councils to buy up properties and restore what was lost under Right to Buy, according to a campaigning think-tank.
The number of former rental properties currently for sale has risen dramatically as more landlords exit the market or downsize.
As Peers prepare to debate the Government’s Renters (Reform) Bill today, the NRLA has warned that landlords exiting the sector are the ‘biggest threat’ to renters as supply narrows and rents continue to rise rapidly.
One in five landlords hit by rising costs are considering selling up, with a stark divide between those with properties in the north and south of the country.
