There has been plenty in the news about the amount of landlords looking to exit the market, and there are now some government figures to back this data up.
A report commissioned by the Ministry of Housing, Communities and Local government has revealed that of the 23.9 million dwellings in the UK in March 2017, 4.8m were private rented, 15.1 owner-occupied and 4m were social and affordable rented.
Compared the same report from March 2016, the number of private rented has fallen by 46,000, whereas the number of number of owner occupied has increased by 262,000. The number of dwellings in the UK overall has increased by 217,000.
So, the recent statements by organisations such as the NLA that landlords are being forced to sell up in light of the new Section 24 legislations are backed up by this latest research.
Social and affordable housing stock has increased by 3,000 dwellings, which would tally with the government’s plans to invest in the property sector.
The statistics also show there were 605,891 vacant dwellings in England on October 2, 2017, an increase of 16,125 (2.7%) from 589,766 on a year earlier – representing a shocking 2,5% of the housing stock. With such a demand for property, this is possibly the most shocking statistic of them all.
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