Landlords ARE quitting buy to let – but fewer than feared
Research by franchise lettings agency company Belvoir suggests that landlords are continuing to exit the property market, although not at the rate anticipated by previous studies.
“Statistics show a slight increase of 48 to 52 per cent of landlords selling up to three properties and a similar number of landlords selling between four to five properties compared to the second quarter of the year” explains chief executive Dorian Gonsalves, reviewing the company’s data for quarter three.
“There was a decrease from 17 to 12 p[er cent for landlords selling six to 10 properties. Two years ago 10 to 18 per cent of offices were reporting no sales of landlord properties, but this figure has now fallen to between four and five per cent. Overall, our conclusion is that the number of landlords selling properties is increasing, albeit not at the rate that some research has suggested” says Gonsalves.