As the successful and reliable Greycoat real estate agency specialists recall, at least 1,455 UK landlords were interviewed by the authors of the recently published Simply Business Landlord Report. Their answers show that at least 9% have already liquidated their investment property portfolios during the past year, and 25% plan to do so within the next 12 months.
Areas in the UK Most Affected by Landlord Selloffs
Here at Greycoat Real Estate, we’ve witnessed how landlords who were most apt to sell owned properties in the following areas:
Wales
The South East
We have also seen where landlords in the following areas appear intent on keeping their properties and even acquiring new ones:
Scotland
The North West
Greycoat Explains Why UK Landlords Are Planning To Liquidate Their Investment Portfolios
Our experience at Greycoat Real Estate Agency is that many landlords’ decisions to sell their portfolios have to do with increased costs associated with retaining their properties. Many landlords have seen anywhere from a 31% to a 501% increase in buy-to-let mortgage repayments during the past 12 months. In addition, Greycoat recalls, to an uptick in prices, UK landlords face economic instability and an ever-changing regulatory climate.
As for the latter, more than half of landlords polled are concerned about newly proposed policies like the Renters Reform Bill. Only 6% believe its passing will positively impact them, whereas 60% concerning the Renters Reform Bill think it will adversely do so. Even still, Greycoat finally states, at least 40% of landlords concur that the bill wouldn’t affect their property investment strategy. At least 27% are undecided about whether it will.