Worry Spreads As Agents See More Landlords Quitting Buy To Let
No fewer than two thirds of the lettings agents surveyed by Goodlord say they expect more landlords to exit the private rented sector before Christmas.
In a survey of 2,600 agents, landlords and tenants in Goodlord’s State of the Lettings Industry annual study, some 28 per cent say they have a already seen one in 10 of their landlord clients quit this year.
As a result, the agents say there is a shortage of stock – 65 per cent of agents asked say they have run into problems regarding this issue.
And a third of agents says the current cost of living crisis and the threat of ever-higher energy costs warn this will have a “major and negative” impact on the lettings market, including a rise in arrears.
Only 43 per cent of agents say they are either “very optimistic” or “somewhat optimistic” about the future of the sector. Some 25 per cent describe themselves as pessimistic.
Tom Mundy, chief operating officer at Goodlord, comments: “There are a range of things causing serious concern across the sector. Whilst the pace of lettings remains intense and the market buoyant, various macroeconomic and regulatory factors are cause for concern. Although these are yet to materially dent optimism amongst agents, landlords and tenants.”
More details from the results of Goodlord’s survey will be released next week.
