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Data from a survey carried out on National Landlords Association members has revealed that only 48% of landlords are seeing increases in property rents this year. The numbers of landlords who plan to put rents up is lower than the last quarter of 2016, which is good news for tenants and not so good for landlords.
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Landlords impacted by Government Tax Changes
17% of landlords report lower interest in their properties. This is having a marked impact on landlord confidence, especially in London where tenant demand is falling. Landlords are also been affected by the new tax changes, which is why many are reluctant to invest further in their property portfolios.
“The impact of the tax changes has a natural link to landlord confidence, as the market landscape continues to be reshaped by changes in regulation,” says a representative of Lloyds Banking.
Only 13% of landlords are considering buying more properties to add to their portfolio, which is the lowest figure for more than a decade. Despite this, many landlords are still optimistic about the future. Landlord confidence is better than it was a year ago, which is perhaps a reflection of a higher degree of certainty about the UK economy now we are moving towards Brexit.
Scottish Landlords Not Optimistic
Landlord confidence does seem to vary according to which area of the UK is being quizzed. Landlords in the South East are more confident, with 47% feeling positive about their future prospects, but Scottish landlords are less optimistic.
