28
Dec
Accidental landlord exodus could change the market
People with
property to rent in London could find themselves with less
competition over the next year as many accidental landlords (those
forced to rent their home as they cannot sell), will reduce as
house prices increase.
Alan Ward, chairman at the Residential Landlords Association (RLA),
said: "These are the accidental landlords who have been forced to
rent because they can't sell for whatever reason."
The RLA has said that there are an estimated 100,000 homes which
are currently being let by accidental landlords, meaning that the
rental market would see a significant dip in property availability
if more people decide to sell.
It was announced earlier this month by LSL Property Services that
the price of rent in the UK private sector had slowed in November
for the first time in ten months, a trend which could be bucked by
the decrease in competition meaning more people are looking for
less properties.