The SCSI linked the exodus of smaller landlords to “overly complex” rent legislation; low rental returns; and compliance with “onerous” housing standards.
“SCSI agents are reporting that the supply of available units to rent is at one of the lowest levels ever experienced and they don’t believe the situation is set to improve in the short term,” he said, noting that almost eight out of 10 agents surveyed by the SCSI are of the view that individual buy-to-let second-hand rental units being sold at present will not be replaced in the rental market in the next two years.
While economic uncertainty, inflation and interest rate hikes have cooled the market, affordability and viability remain key issues, it said. It calculated that new homes remain unaffordable for first-time buyers in several counties.
It said its members had highlighted the cost of construction as a particular concern in relation to the supply of new homes with inflation and labour shortages contributing to higher costs.
Source: News Formal (newsformal.com)
Good move, sell high the houses that need renovations and big investments in new heating systems , buy low in 2 years
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