A report from Property Wire suggests that ‘Landlords leaving the buy to let market could result in property prices falling further in London and parts of the South East during 2018, while Yorkshire and the North West are the next boom areas, according to the latest forecast.
Comparing house sales in November 2017 v 2016 we see new sales instructions jumping by 11% across the UK but rental properties fell by 16%.
The article reveals how these figures stack up across the country.
‘Any sort of buy to let exit will tip the market to the downside and the UK Government should be monitoring the situation very carefully because such a change to the housing market could affect the wider national economic interest, especially post-Brexit,’ said Home.co.uk director Doug Shephard.
‘If landlords are forced to sell up, all property prices will be driven down, leaving the first time homeowner in negative equity and mortgage liquidity hard to find for first time buyers. Surely not something the Government would wish upon the housing market in 2018,’ he added.