Landlords take a long-term view after the ‘disappointing’ Budget

Landlords take a long-term view after the ‘disappointing’ Budget

0:02 AM, 4th December 2024, About 2 weeks ago 3

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Landlords across the UK have expressed disappointment with the recent Budget and are now taking a longer view of the private rented sector (PRS), one survey reveals.

Landlords say they are disappointed with the increased stamp duty on second homes and investment properties.

The research from buy to let lender Landbay reveals that 72% of landlords felt let down by the government’s decision.

Nearly 40% of landlords surveyed indicated that the increased stamp duty would deter them from buying additional rental properties.

Also, 30% stated that it would only have a minor impact, leading them to scale back their investment plans.

Just 12% of landlords believed that the change would not affect them at all.

Landlords are concerned

The lender’s sales and distribution director, Rob Stanton, said: “Landlords are understandably concerned about the increase in stamp duty.

“But it should be remembered that there is an abundance of tenants ready to rent across the country.

“Affordability is still a real challenge for residential buyers and demand continues to outstrip supply.”

He added: “The buy to let sector has survived countless crises and changing governments over the years and continues to thrive.

“But nurturing confidence among landlords is key to the health and prosperity of the UK housing market if the sector is to provide much needed accommodation.”

Landlords remain optimistic

Despite the negative sentiment, some landlords remain optimistic about the long-term prospects of the buy to let market.

One landlord said: “I feel positive because this is my attitude towards property investment over the last forty years. To me, this is a long-term investment, and I am not at all looking for benefit in the short-term.”

However, concerns were raised about the government’s apparent disregard for the essential service provided by landlords.

As one landlord put it: “There is a chronic shortage of rental properties. It’s a lot like taxing a doctor extra for curing a patient.”

Landlords with portfolios of four to 10 properties were most affected by the increased stamp duty, with 38% stating that it would have a significant impact.

Additionally, landlords based in London and the South East were disproportionately affected, accounting for 38% of the group that felt the change would have a significant impact.


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Northernpleb

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14:42 PM, 4th December 2024, About 2 weeks ago

Were are these Happy optimistic landlords ?

Northernpleb

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14:59 PM, 4th December 2024, About 2 weeks ago

And where are the Happy Tenants going to be when there is nothing to rent .

Landlords and Tenants rely on each other and it has been successful for years. Many off us have tenants that have been with us for years and we have seen the kids grow up.
Now ant- landlord policies have a strong possibility of making Hundreds of Thousands Homeless.
An attack on Landlords is an attack on Tenants .

Vibha Spal

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8:19 AM, 6th December 2024, About A week ago

The politicians, both Tory and Labour are totally clueless as to how the PRS works. Why don't spent their time resolving social renting issues. People on UC and housing benefits needs to have social housing. It is totally the government responsibility.
All the stupid taxes piled up on the landlords and upcoming reforms has already damaged the PRS. It will get worse within the next 5 years. 12% not affected. Why? Possibly in the north of England where property prices in relation to the yields is the best option. Not in London, where the stamp duty is crippling the investors with a very low yield. Government is making it attractive for large institutes to become landlords in the capital and monopolies.

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