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  • Section 24 HQ

    East of England has greatest landlord exodus



    Newly released figures from ARLA Propertymark have shown the extent of landlords leaving the sector in the East of England.

    In November, the East of England was the highest region for landlords selling up, with eight per branch, compared to the national average of four - 100% more than the national average.

    David Cox, Chief Executive, ARLA Propertymark comments:

    “More than three quarters (78%) of ARLA Propertymark members think the number of landlords operating in the private rented sector will fall even further next year2 as they are driven out by rising costs. It’s therefore very likely that we’ll see the national average increase in line with what we’re seeing in the East of England.

    We’re all striving for the same end goal of improving the private rental sector for consumers, but the only thing which will truly create a better – fairer – market, is a dramatic increase in supply.”

    Full/source story 

    It would be interesting to understand why the East of England is experiencing this landlord exodus.  Does anyone have any thoughts on this?

    SEE ALSO  -          My first tax bill under Section 24

    UP NEXT -              1 in 4 landlords to exit due to Section 24

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    NOW WATCH:

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    Well none of us should be surprised

    most of us for some time said this would happen 

    Osborne law and PRA etc has worked and now we are seeing landlords move on

    it will be interesting to see the new blogs about the landlords comments as they leave

    it’s taken a few years but the HMRC penny has dropped!

    I am pleased I have made my plans and used the time we were given to sort my business out

    others are just lambs to the slaughter

    apathy  is the most dangerous things in business

    To sit and do nothing is not an alternative - deleverage or sell up !!

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    Happy Christmas and Seasons Greetings to all at PT!

    I have completed the tasks I mentioned in my interview with Vanessa. Re-negotiated insurance policies. Kept in active contact with my lettings agents (to get lower management fees where possible). Increased rents where possible. Extended a lease to reduce ground rents long-term. Pared back all costs.

    I have the cash to pay my extra S24 tax in January

    Absent any massive changes in the economy, I can manage for 2018-2019 with my current portfolio.

    I'll be letting out a room in my home from January 2019 (tax free income!)

    Once the mortgage interest relief is reduced by 75% I'll feel the pinch, so I'll have to make further changes then

    I recommend being active in your investing, even if your property portfolio is not your main job.

    Keep up with the changes and have plans for how to adapt

    Be thankful for the opportunities you've taken as an investor

    If you have investment in property you are ahead of most people

    I'm off to my hairdresser now - ahem!- and later I'll raise a glass to you all on PT

    Happy new year 2019

    Denise

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    I think it might be more of an exodus in the south due to property here having a lower return. With lower yields the tax issues are more problematic. In addition, property price growth has slowed in the south, but in the north some may feel capital growth may continue for a while and so there is more to hold out for.

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    Rural Practice Chartered Surveyor. Experienced in estate management, residential investments, planning and development and rights for utility apparatus. All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    Do they have statistics of average selling up rate in the past?  Landlords have always sold up, from time to time, for a variety of reasons.  Anyone got evidenced numbers?


    Merry Xmas all!

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