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  • Section 24 HQ

    Almost 4,000 Landlords a month are selling!

    This is not my imagination.

    From This is Money:

    Landlords are offloading 3,800 buy-to-let properties a month leading to the first drop in the number of homes available to rent in 18 years, official figures confirm.

    The latest Ministry of Housing report shows the number of privately rented homes in England fell by 46,000 to 4.79 million last year - the largest reduction since 1988.

    The figures come two years on from sweeping tax reforms to the buy-to-let sector which have bitten hard, decimating profits for thousands of British landlords.

    It marks the end of a rise in the volume of rental dwelling stock that has been ongoing for nearly two decades.

    http://www.thisismoney.co.uk/money/buyto...MONTH.html

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    Learn Change and Adapt ?????

    Wow that sounds a big figure

    But I wonder what the figure was a year ago for comparison

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    Jonathan Clarke. http://www.buytoletmk.com

    The late, great Yorkshireman Keith Waterhouse had a saying in relation to statistics : " department of guesswork"

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    Full time Landlord in WestYorkshire, mentor and property education to new and inexperienced PRS investors. 25+ years of working knowledge. RLA member http://www.landlordgeoff.co.uk [color=#800080]

    That's just the start, many thought it was a one way bet to make money now they have woken up to the real world. Others taking profits as the see this sector under pressure for years to come. The many reasons already stated on this tribe.

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    Approximately 1%, not likely to have much impact athough it would be interesting to have specifics on reasons.

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    I think this is only the start

    lets see what the figs are like in 2020

    then we will know

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    Learn Change and Adapt ?????

    Just playing devil's advocate...

    "The latest Ministry of Housing report shows the number of privately rented homes in England fell by 46,000 to 4.79 million last year - the largest reduction since 1988."

    These figures confirm the rise in popularity of platforms such as airbnb as landlords find alternative uses for their BTL properties due to recent changes in tenancy regulations...

    or

    These figures confirm that government initiatives are working, with more young people taking a first step on the property ladder, reducing the need for the PRS...

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    I think both your statements are true

    And maybe a 3rd one to add..... .

    These figures confirm that government initiatives are only 25% working with a few more FTB `ers yes but also  many more people young and old who cant afford to buy  becoming homeless due to s24 and forced to go back to live with parents / children in over crowded unsuitable living conditions. Or where no family support structure exists  forced into run down temp B&B`s and travel lodges maybe 50 miles from their home town for extended periods meaning  the government wilfully breaks the legally allowed  6 week limit to live in TA before being offered a permanent council house .

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    Jonathan Clarke. http://www.buytoletmk.com

    Yeah but Govt doesn't care about what you correctly suggest

    They have their pandering to the whiney London and SE GR to continue with.

    GR is far more important to Govt than a few thousand homeless.

    As long as they are hidden away in crap alternative accommodation the public will be none the wiser and Govt can get on bigging themselves up to the ridiculous GR.

    LL selling is propaganda manna from heaven for Govt.

    They can state look how effective our anti-LL policies are; we are forcing the bastards to sell up.

    See how we are helping you to buy from our now level playing field we have created for you so that you can compete with those nasty LL who chose to have mortgages in their own name.

    Aren't we Tories great?

    Please rememberr what we have done for the next GE!!!!!??

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    I've certainly seen signs of this in my area (midlands). I don't know what the figures are, but there's a big area of ex-council prefabricated houses, which in had been snapped up buy landlords (near a university with a huge demand for students). For the past 4 years there were none for sale. In recent months they are increasingly being put up for sale. The challenge now is that they are asking inflated prices. I viewed one yesterday; it's really tatty, has asbestos roofs, needs many thousands spending, and a recent quick slapping of paint everywhere which still smells doesn't disguise anything. They are asking 148, whereas the house two doors away which is in excellent order went for only 135.

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    There's another reason for this I've just found out, nothing to do with S24: owing to crime in that area, the university has decided to pull out of that area altogether.

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