Editor's note: This brief was summarised by The Property AI Team from a report by Mortgage Strategy. Read the original article for full details.
Up to 100,000 Unsold Ex-Rental Homes Could Remain Empty, Hamptons Warns
Hamptons has warned that up to 100,000 unsold ex-rental homes could be left empty due to new re-letting restrictions. The agency reports that the pace of landlords selling rental properties has slowed, with landlord purchases now exceeding sales for the first time since 2019.
According to Hamptons, the Renters’ Rights Act could prevent these unsold homes from returning to the rental market. The agency highlights that new re-letting restrictions may be a key factor in keeping these properties vacant.
At the same time, Hamptons notes that rents continue to rise as market conditions improve for landlords. This trend is relevant for letting agents and inventory clerks, as it may impact rental stock availability and the volume of new tenancies.
Letting agents and inventory professionals should be aware of these developments, as changes in the supply of rental properties and ongoing legislative adjustments could affect their day-to-day operations and client advice.
Source: Mortgage Strategy