28 Dec

Accidental landlord exodus could change the market

Accidental landlord exodus could change the market

People with property to rent in London could find themselves with less competition over the next year as many accidental landlords (those forced to rent their home as they cannot sell), will reduce as house prices increase.

Alan Ward, chairman at the Residential Landlords Association (RLA), said: "These are the accidental landlords who have been forced to rent because they can't sell for whatever reason."

The RLA has said that there are an estimated 100,000 homes which are currently being let by accidental landlords, meaning that the rental market would see a significant dip in property availability if more people decide to sell.

It was announced earlier this month by LSL Property Services that the price of rent in the UK private sector had slowed in November for the first time in ten months, a trend which could be bucked by the decrease in competition meaning more people are looking for less properties.ADNFCR-1222-ID-801250508-ADNFCR

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