Almost one in five landlords to flood market with 380,000 properties
Up to 380,000 landlords are set to dump properties on the market over the coming year, according to research by the National Landlords Association (NLA).
Of the landlords who intend to sell property, the 45% of plan to let go of individual flats and apartments, while a third are looking to sell terraced homes.
The flood of homes is good news for first-time buyers but bad for renters, the trade body said.
Just 7% of landlords planning to sell are intending to pass on to property to other landlords.
Richard Lambert, chief executive of the National Landlords Association (NLA), said: “These findings sound like positive news for potential new homeowners, but the reality is not everyone wants, or is in a position financially, to buy.
“In fact, if all these homes are sold as planned then it will lead to a significant fall in the supply of property available to those who choose to rent or have no other option but to rent.”