Landlord exodus slows but shows no sign of halting
Number of property owners exiting the rental sector is falling, but a third don't know if they will still be landlords in five years.
The exodus of landlords from the private rented sector may be slowing down, but has certainly not stopped, according to lettings tech firm Goodlord.
Numbers of property owners considering or actively selling-up is now one in four, as implementation of the Renters’ Rights Act looms next month.
Numbers lower
Goodlord surveyed more than 1,200 landlords to gauge their appetite for staying in the market, and found 72% are not currently offloading any stock.
But a third – at 35% – don’t believe they will still be a landlord in five years’ time.
These numbers are lower than when Goodlord surveyed landlords in September last year. Then, a third of landlords – at 35% – said they had sold or had actively tried to sell some or all of their portfolio in the previous 12 months.
While fewer landlords leaving the sector is definitely good news, the wider signals are still concerning.”
Emily Popple, Director of Landlord Experience at Goodlord, says: “These numbers provide initial indications that the pace of the so-called ‘landlord exodus’ has started to ease, with the majority of landlords appearing to be in a holding pattern.
“Many will be waiting to see what the real world implications of the Renters’ Rights Act are, once it comes into force on May 1.
“While fewer landlords leaving the sector is definitely good news, the wider signals are still concerning. Far too many don’t see a future for themselves in the PRS and there’s only a very small cohort investing in portfolio expansion.
“We only have a short window to try and turn the tide.”
