Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Landlord Sales Slow Amid 12-Month Re-Letting Ban
Landlord sales have slowed as a 12-month re-letting ban makes selling more difficult, according to new research reported by Property118. For the first time in seven years, landlord purchases have exceeded landlord sales.
Data from Hamptons shows that the share of homes listed for sale that were previously rented dropped to 9.2% nationally in June. This is a decrease from 11.3% last year and is below the peak seen in 2021-2022.
The findings highlight a shift in the UK property market, with the 12-month re-letting ban cited as a deterrent for landlords considering selling their properties. This trend is relevant for letting agents and inventory clerks, as it may affect the volume of rental properties entering the sales market and the overall turnover of rental stock.
Source: Property118