Landlords aren't making enough, warns housing expert - Letting Agent Today
A major report is due to be launched at Westminster today on the private rented sector.
Written by housing expert Professor Michael Ball, it controversially warns that current returns for landlords are so low that property investors would have done better to put their money elsewhere.
This is despite media reporting of rising rents, says Ball, who describes it as ‘hype’, which fails to take into account costs and inflation.
He says that because landlords are not making enough from their investments, it is restricting the amount of new accommodation available to meet increasing demand. He warns of a serious risk of 'disinvestment' whereby landlords either quit the sector or stop spending money on the upkeep and improvement of their properties.
Ball, who is Professor of Urban and Property Economics at the University of Reading, says that rents remain significantly below their early 2008 levels, when adjusted for inflation.
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It's called a recession apparently...
ReplyDeleteBesides, do we really need another report on the PRS? There's plenty already out there or do we need one with a coalition spin on it?
After all, this government is the landlords friend, regardless of how the PRS impacts on other sectors!