‘Landlord bashing is beginning to affect supply in the rental market’

Recent ‘landlord bashing’ by both politicians, HMRC and housing campaigners is having an effect on supply within the PRS, a round-table of property ‘titans’ has noted.

Organised by Phil Spencer’s MoveIQ platform, the comments were made during a wide-ranging debate between the TV star and Nathan Emerson of Propertymark, Gareth Samples of TPFG and Tim Bannister from Rightmove (main picture).

During the filmed debate, which was published this morning on YouTube, the four agreed that ‘landlord bashing’ was beginning to take its toll on rental supply and landlord sentiment.

All four also agreed with a point made by Bannister that the extra income, CGT and stamp duty taxation on landlords, as well as the looming costs of EPC upgrades, and the Government’s often political comments about the sector, were persuading many smaller portfolio and accidental landlords to consider – or actually – throw in the towel.

“But on the other hand, larger landlords who do it as a full-time job are the ones who are looking to add properties to their portfolios, so there is some positivity there,” says Bannister.

Samples, whose 600 estate agencies look after some 76,000 fully-managed properties, says another reason landlords are selling their properties is that the ‘top of the market’ has been reached, begging the question whether those properties will be snapped up by first time buyers, or other landlords.

He also said it was the industry’s job to attract the next generation of landlords.

Commenting on the overall housing market, which the panel also discuss in detail during the 37-minute, Phil Spencer said: “The market is better than we expected as we enter 2023 and things appear to have settled down.

“This is good because uncertainty is the killer of any market it doesn’t matter what you’re trading in, nobody likes uncertainty.”

Watch the video