Higher taxes and regulations drive buy-to-let exodus

The Bank of England’s Monetary Policy Report on Thursday said demand for rental properties has continued to outstrip supply as “the number of landlords choosing to exit the market increased”. Official data shows that rents across all private UK tenancies jumped by 4.2% year-on-year in December – the highest rate recorded since data set began in 2016. Ben Beadle, chief executive of the National Residential Landlords Association, said tax changes had exacerbated the blow of higher mortgage costs for buy-to-let owners. He added: “Landlords have nowhere to go with higher rates. Renters face a supply crisis and the problem is taxation.”

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The Daily Telegraph

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