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The number of landlords selling up climbs in the capital

Thursday 28 March 2019

The number of London landlords exiting the market in February, was 125 per cent higher than the national average according to a recent survey of our members.

Landlords have faced continued legislative change coupled with increasing costs over the last few years, and many are either having to pass the costs on to tenants or exit the market. In February, London was the highest region for landlords selling up, with agents reporting nine buy-to-lets being marketed per branch, compared to the national average of four.

David Cox, Chief Executive, ARLA Propertymark comments: “Back in December, more than three quarters (78 per cent) of ARLA Propertymark members predicted that the number of landlords operating in the private rented sector would decline this year, as they are driven out by rising costs. This trend is snowballing in London where, due to the capital’s higher costs, landlords are struggling to make ends meet. This means tenants will continue bearing the brunt, as competition for good quality properties increases, and rent costs rise.”

Rents rise across the country as landlords exit market

Results from our Private Rented Sector report for February showed that 34 per cent of agents across the country witnessed landlords increasing rents. This was the highest we had seen since August when it was 40 per cent the highest that we've recorded.

Read the latest report