Property Purchases By Landlords Fall To 14 Year Low

Property Purchases By Landlords Fall To 14 Year Low
In this video, we discuss the significant drop in property purchases by landlords, reaching a 14-year low. What’s behind this decline, and how will it affect the rental market and property prices? Tune in for a comprehensive analysis. Don’t forget to like, comment, and subscribe for more property market updates!
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[@propertyaccelerator]

Read MORE about it on our blog: property-accelerator.co.uk/landlords-quitting-faster-than-ever/

[@ColinBrazier]

Was going to re rent out, now SOLD and out 2024. That why politicians should not be involved in private affairs and owners personal pension plans

[@propertyaccelerator]

👍

[@sirrodneyffing1]

I'm selling this year, 3 bed in London just losing money. Renters will get lots more rights; but nowhere to live. Good job.

[@propertyaccelerator]

👍

[@Mr.H52]

I have also decided to sell, high interest, high tax return, landlord licensing, maintenance etc, is just too much and am not even making anything, I am done

[@propertyaccelerator]

👍

we have two tenants who aren’t paying ,in arrears etc , going to take ages to remove them . The rents in the block are cheap so valuation of the property decreases , only answer is to get rid of all the tenants and sell the property empty at higher valuation , fing headache

[@RS-yg3fw]

Do it before rental reform …i hear maybe it will be so we need to selll to tenant first refusal if the reason to remove tenant is to sell . It’s a pigs ear

[@propertyaccelerator]

😬

[@DC-uf6ve]

I'm holding tight for the moment but have been considering selling up for a while. Mortgage rates are unhelpful but the main issue for me is that the standaed/behaviour of tenants has dipped greatly since I first started doing this. The number of badly behaved, entitled and scruffy living f'ers has risen exponentially for me, I seem to spend more time turfing people out and handling complaints from neighbours than ever before. Perhaps this is a reflection of the direction society is heading but each one of these clowns costs me money each time. Where have all the good tenants gone?

[@propertyaccelerator]

👍

[@TazBo-wd2ig]

I love my tenant and I feel so bad, he has a family of 3, but the government is making it impossible for me to stay a landlord. I’m going to have to sell. I will give him a year’s notice but honestly the UK is a complete mess.

[@chrishart8548]

Being a tenant and starting a family is a mistake I learned the hard way. I don't recommend it. And don't have pets either. House first then a family.

[@propertyaccelerator]

🙏

[@markb2032]

I get on fantastic with a tenant of mine have a pint with him he invites me to bbq’s and I am always honest with him and I have even discussed the next time the mortgage is up for renewal (July 25) I suggest what ever it goes up I will take half the hit if he takes half he said I haven’t put it up in a couple of years so ye seems fair 👍

[@chrishart8548]

@markb2032 wow top man I know there are some good landlords out there. I was a landlord myself for a wile so I know both sides. Mine said he wouldn't put the rent up. He didn't for the first year but it's risen 3 or 4 times since. He doesn't really like fixing things either.

[@markb2032]

@@chrishart8548 i guess I’m lucky in the fact that the ltv on that property is fairly low so it gives me some wiggle room and also property prices in the greater Manchester area have been low for years now . I feel sorry for a landlord with more than 50% ltv on 200k + properties makes the amount they have to charge unrealistic

[@fje1948]

I am trapped… for another 2 years…. Can’t wait to sell!

[@propertyaccelerator]

The market could be very different in two years

[@brianbosomworth7555]

I think it’s only a matter of time before us small landlords (5 or less) properties leave the market & invest our money elsewhere. It’s a shame for us & especially the tenants as we look after them. Big cooperate landlords are the future it seems as they can absorb the losses/ongoing overheads which is all well & good but is the support there for them, that’s what I question.

[@propertyaccelerator]

I think there is a market for small landlords still, big corporates dont want your properties they want to build huge estates or blocks of flats where they own all of them.

[@moodobusiness]

1 1/2 half million Holmes is equivalent of about 2 to 3 years immigration

[@propertyaccelerator]

👍

[@alanevans9604]

2 tier system will apply to renting as well.

[@propertyaccelerator]

👍

[@Mohawkmike]

How is it fair that every landlord pays tax on income not profit. If you earn 50k from a standard job then compare it with someone who earns 25k from that same job and 25k from rental so still totaling 50k. You are worse off then the former by thousands, yet you have all the risk and responsibility of the property. The first 10k of interest should be 100% for interest tax relief instead of 20% to allow new landlords with minimal properties a chance to earn a fair amount. Not everyone has or will have dozens of properties

[@paulgbar666]

@@Mohawkmike Where did you get the idea that every LL is subject to S24!!!??? Because they aren't. Only mortgaged sole trader LL are. No corporate LL is subject to S24

[@Mohawkmike]

@@paulgbar666 so landlord with buy to let mortgage. Only 20% of the interest mortgage is allowed as an expense?

[@paulgbar666]

​@@Mohawkmike But only if a BRT

[@paulgbar666]

​@@Mohawkmike Only for BRT

[@paulgbar666]

You are correct in all your contentions. However fairness doesn't come into it. S24 was designed by evil Osborne to force LL out of business. He knew that most LL with mortgages were sole traders so he knew S24 would have an immediate effect. I attempted to sell up in 2015 but my mortgage lender prevented me from doing so. It took me until 2023 to finally escape. S24 has resulted in hundreds of thousands of LL selling up. This has resulted in massive tenant homelessness. Do not under any circumstances consider that LL will be treated fairly. Labour also want to eradicate LL

[@debspaul6635]

Selling up after 30 years , time to move on from renting properties, government want corporations to rent to tenants gone are the small / medium landlords

[@propertyaccelerator]

👍

[@michdude52]

Alway have looked after my tenants. Being clobbered by the goverment has made it extremely unaffordable. and now HMO tax has added an extra £125 a month to the first year of rent which has to be passed on to the tenants.

[@propertyaccelerator]

🙏

[@coolco1619]

I was encouraged by previous government to do buy to let as a pension! Now new government completely scrap that very idea. Who should we believe from now and where do we stand!!??

[@propertyaccelerator]

Im keeping all my properties, you need to just keep updated on rules and dont over leverage.

[@pmtilbury6596]

I am selling 1 of my 4 because it just doesn’t give a good enough yield to be worth while and it has a mortgage on it. My other 3 are much smaller properties and have been far easier to find tenants at a good yield and to maintain

[@propertyaccelerator]

🙏

[@coolco1619]

Very well aiming at LL but good luck to those who need to rent, they are not qualified for council housing, too inconvenient to live with parents, can't afford to buy, too much commitments to buy etc etc. Where are they supposed to find a place to live!!!???

[@propertyaccelerator]

We need to build for sure.

[@jeremybevan5946]

Hi James, A letting agent that I use told me that he normally sells one or two rentals a month from landlords who have had enough but that number has grown after some worry information from the new government on; rent caps, section 21 and EPC; he now is doing 3 a week. How will they make up that lost income other agents have got creative on some of my other rentals charging for things that really should be included in their fees. Your subscribers are going up very quickly recently so you must be doing something right, Well Done!

[@propertyaccelerator]

Wow that’s a big increase

[@tdavies1627]

Section 24 and new renters reform will be final nail in coffin, conservatives started attack and labour will finish the job

[@notsure920]

Gov is coming up with alternatives as well to help landlord however, the expectation is too much from landlords for the profit that is made these days considering the expensive mortgages and the cost of any tradesman work as well as cost of goods i.e. furniture significantly higher than ever...

[@paulgbar666]

@notsure920 Govt is NOT assisting LL at all. It is going its damndest to bankrupt them

[@paulgbar666]

@notsure920 Govt isn't coming up with any alternatives to assist LL. Rather they are adopting or rather continuing the eradication war started by the Tories in 2015. Labour seeks to get rid of all small LL and they will succeed.

[@paulruffy8389]

@@paulgbar666 Yep it does seem the anti LL brigade will get there way and in the future they will be renting from huge corporations, no local LL or letting agent, just a call centre in India to assist them should they have any issues with their home.

[@propertyaccelerator]

I think Renters Rights Bill wont be as bad as people expect. I think they get rid of Section 21 but bring in something similar. They get the headline of removing Section 21 and keep some landlords happy.

[@asifch2230]

Correct I'm out as well. Found better strategy.

[@Andy5c]

Care to share?

[@swhiting100]

?

[@asifch2230]

Airbnb

[@jonsstuff760]

@@asifch2230Airbnb & holiday letting no longer tax exempt from next April

[@propertyaccelerator]

👍

[@Thereishope664]

Two Tier Kier being a hard socialist will be the final nail in the coffin for landlords.Congratulations any landlords out there who voted this lot in.

[@propertyaccelerator]

👍

[@oblong3039]

330,000 rental properties gone in a year? where are those figures from?...crazy if true, could be another 330,000 rental gone next year. How often do you review your rents if you have good tenents?

[@propertyaccelerator]

Its in all the press this week search on Google News, I review the rent once a year.

[@i.c.9343]

But new buyers can buy house with 5% deposit.

[@propertyaccelerator]

For residential yes but not buy to let

[@craigmorris6306]

I think everything you said makes perfect sense,and I don’t agree with you all the time but spot on with this video!!

[@propertyaccelerator]

Thanks Craig

[@graemejones9707]

I pay 61.75% tax because of IR35. The economy is going to crash hard because people can't afford to earn the money they need to live off.

[@propertyaccelerator]

I worked in IT recruitment in 1999 when that came in. We have 10% of our staff trying to make contracts IR35 friendly. I quit and went backpacking much more fun

[@graemejones9707]

@@propertyaccelerator It never got anywhere then but once Sunak became chancellor it was pressed home. The beneficiary? His father in law's firm Infosys who not only faced less competition but got more white flag "resource" to recruit as permies as contractors gave in and took permanent jobs. It's backfired on everybody. Companies don't want the hassle/bureaucracy and potential fines so they're just offshoring this work. We miss out, they miss out on better skills and of course the government gets sod all tax! I've taken the decision to spreadbet the markets again. It's tax free.

[@alanevans9604]

I wanted to let a property, but there's no possibility of doing it now.

[@propertyaccelerator]

It still works you just need to do more research and buy a decent deal.

[@notsure920]

Just waiting for fixed rate mortgages to end, not worth the headache and pain that comes along with being a landlord. Nobody appreciates how hard it is from set go, there is no such thing as holiday or day off, 365 days a year, it does not matter which part of the world you are in you will get a call to do something....

[@propertyaccelerator]

🙏

[@iaincampbell4422]

06:00 I appreciate the rhetorical point on having mortgage interest only offset against the lower tax rate rather that calculating profit first before working out what is due... but I do think this generalisation does miss that many other expenses are fully deductible, unless I have misunderstood the state of affairs? I appreciate that in a really bad overleveraged situation a landlord could end up making a loss as soaring rates mean the mortgage payment may be larger then the rent, but yet despite making a loss tax may be due.... personally feel you need to be clearer about this... unless I've misunderstood the situation?

[@paulgbar666]

@iaincampbell4422 You don't understand how venal S24 is. Essentially it requires tax to be paid on fictitious income with income that may not be available. No business could survive a turnover tax

[@iaincampbell4422]

@paulgbar666 No, I haven't missed that, I essentially made just that point at the end of my post. My concern is that those trying to learn the ropes here would be better served by a fuller explanation. The point that a loss can be made and tax still be due is well made but not explaining the full nüance of that hinders those learning and also makes those that understand the situation feel arguments are more one sided than being clearer... that is, provided I haven't got it wrong myself!

[@paulgbar666]

@iaincampbell4422 You are correct that the S24 tax policy is a devilish one to explain. It is so evil that many are incredulous as to how it works. It has been an incredibly successful Govt tax policy in that it has achieved it's objective of eradicating over 260000 LL along with sales of hundreds of thousands of former letting properties. The resultant tenant homelessness was just a casualty of the policy. Nobody cares about homeless tenants. The objective is to eradicate LL no matter what.

[@propertyaccelerator]

👍

[@propertyaccelerator]

🙏

[@sukhvindertiwana586]

I'm selling my rental flat as soon as flammable materials have been removed and liability for it has been finalised as I don't want them to come after me after I've sold. My friend is selling her two rental flats too. Another friend of mine has sold her rental house.

[@propertyaccelerator]

👍

[@LindaScirocco]

I can’t wait to sell all my rentals other than one

[@propertyaccelerator]

🙏

[@richardwhite1120]

Would you consider buying a flat with a tenant in situ?

[@propertyaccelerator]

I would as I have experience, I would not if it was my first deal.

[@richardwhite1120]

@@propertyaccelerator Many thanks for your reply, but could you perhaps explain why. I am a cash buyer and so in the context of my overall portfolio of assets it would represent approximately 5 per cent. Is it worth a go?

[@mattanderson6672]

Thank you Sir

[@propertyaccelerator]

Most welcome

[@user-xu8mt3hw3b]

Great video as always, but I do have a thought, if rental prices continue to keep rising, surely when rents increase to a certain amount landlords will re-enter the market.maybe rents have to go up even further before the equilibrium is met. It’s just how markets work.

[@paulgbar666]

No LL will NOT re-enter the PRS. LL are leaving irrespective of rents achievable. There is far more negative things that are going on. LL are leaving Nobody will pay the SDLT surcharge. Selling up makes daf more financial sense.

[@propertyaccelerator]

Higher rents are keeping me in the market.

[@drewhodge3820]

Less rental properties increases demand. This has already pushing up rents in the Midlands consistently. So even I've been forced to put up rent this time around, due to higher mortgage costs and additional overheads. I've only just put up the rent by £50. That's the first increase in the last 3 years, which I hope my tenant can afford. That means I'm just above break even. But it doesn't cover the cost of any serious repairs. Hoping for a better mortgage deal soon, to take the pressure off.

[@propertyaccelerator]

👍

[@InvogueUK]

I'm selling at least one soon.

[@propertyaccelerator]

👍

[@ratsliveonnoevilstar1]

It’s a great time to buy. No risk no reward 😂

[@ronnieeskisan5478]

I agree 👍

[@propertyaccelerator]

There are some great deals around.

[@paulgbar666]

More supply only works if demand is restricted. With mass legal and illegal immigration is simply a logistical impossibility to increase sufficient supply. Only by closing the borders and turning the boats round there ever be a chance of supply meeting demand. With Labour in power this will NEVER happen. Indeed Labour intends to facilitate more migration both legal and illegal. Those who are able to do so should buy a cheap house to live in and take in lodgers. Rent where you want to be and attend your home at least once per month. Only declare one lodger. Anymore than one and HMRC will remove the PPRR for the period there is more than one lodger . Only take cash for the lodger rent. Try and buy a minimum 3 bed house. If rent is more than £7500 per year don't declare it. That is why cash is used as HMRC can't can't cash. Only feed in small amounts to a bank account. Better still use as cash.

[@propertyaccelerator]

👍

[@paulruffy8389]

I am hearing on other channels tennants are going to be able to not pay, (some of the reform bill, regarding ability to evict recurrent non payers being ammended?) PLUS LL unable to sell unless tennant has been there 2 years? Are you not commenting on this?

[@propertyaccelerator]

Yes Ive dont videos on that its called the Renters Rights Bill. Its a work in progress so its all speculation at the moment. When I have more details I will share them, but I have made 3 videos on the topic so far.

[@paulruffy8389]

@@propertyaccelerator Either way I'm guessing getting good tennants will be even more important, so any stuff of thaty also appreciated

[@paulshinh4334]

Ll may be down howver how much has the rental stock reduced or tenant numbers reduced or increase

[@propertyaccelerator]

👍

[@notsure920]

James section 24 - isn't that only the finance interest? Not other expenses are like maintenance costs right? Or are they changing section 24 which includes all other maintenance costs? Please reply I am not aware of this, if this is the case I will liekly to have a heart attack from the stress levels... profits are extremely low as it is...

[@MingInspiration]

I believe it's the bank interest I used to claim bank interest as cost in my tax return Since a few years ago, the tax system told me that I could not claim that any more. it's all worked out automatically when you fill in your online tax return form on the HMAC website

[@paulgbar666]

@notsure920 S24 includes all finance costs NOT just mortgage interest

[@propertyaccelerator]

Yes Section 24 is just the mortgage interest payments you can deduct some costs. However you should speak to an accountant.

[@hlaw1984]

Find me ONE good landlord please 😂

[@propertyaccelerator]

Im a great landlord thanks

[@PabloTBrave]

Well that's a surprise ......not, every video you made being mr positive i said landlords will leave which will be far far worse for tenants , listening to what else Labour are considering CGT, EPC C , rent caps , not been able to sell if it will make the tennants homeless etc it can only get worse for all. Labour's housing pledge won't even cover the population growth never mind the deficit , and it wont be able to build that many houses. I didn't have faith that conservative could look after my yukka plant nevermind the country and labour were obviously going to be worse.

[@propertyaccelerator]

🙏

[@marcwaters2600]

i better buy a tent

[@propertyaccelerator]

😬

[@joebacchetti5890]

I'm diversifying, looking to offload Tenants ASAP and to make as much cash as possible. When they leave, that's it, no more Single Lets available for rental.

[@propertyaccelerator]

🙏

[@o.p.aa.f7929]

💙💙💙✅

[@propertyaccelerator]

❤❤❤❤❤

[@Seamus-b1q]

So property is no longer a good long term investment? Every video you keep changing your mind lol!

[@swhiting100]

Only he didn't say that. And he specifically said he's not worried about Section 21.

[@paulcoates3860]

Property always long time win, unless area goes to sh...., strategy changed now in South, per night, or students kinda thing, 1 family it doesn't work mostly, shame, up north so far works still

[@propertyaccelerator]

Keep watching I always share my data source. Most of these videos are not opinion rather I am sharing news.

[@Chillednfunked]

Who cares if landlords are quitting

[@propertyaccelerator]

Anyone that rents cares, because rents are going through the roof due to lack of landlords.

[@louisesmith4799]

@chillednfunked Your Comment is no use whatsoever.

[@Amanthegoat]

Is there any so called good land lords that are there to make money and don’t care about tenants a toll the put the rents 25%30% a year and they say that is necessary for them to make money not to care about their tenants one of there saying is tenants don’t pay But if same one can’t pay les say £1000 a month how can they pay £1300 but according to the landlord they can this is pathetic thinking of Capitalism I have rented for more than 20 years I never met good landlord simply the want to make as much money as possible the system allows them so they will keep ripping the tenants off .

[@paulgbar666]

Absolute twaddle Of course LL want to make as much PROFIT as they can. If not a bit pointless being a LL

[@paulgbar666]

What a load of twaddle you spout. A deluded tenant you are. Why do you believe LL should charge less than market rents as opposed to the opposite!? Do you think LL are in the game to subsidise the lifestyles of the tenants!!!??? No LL has ever been able to FORCE a tenant to sign a TA. Tenanfs know what they are doing

[@MingInspiration]

if you are a landlord, wouldn't you think that people would just rent somewhere else if you are a bad landlord? you know if you put money into a fixed rate savings account, you actually earn more than letting a property out at the moment

[@paulgbar666]

@Amanthegoat You make a very good point It is difficult enough being a good LL leg aline a rogue kne. Indeed as a good LL I sold up. Just wasn't worth all the risks

[@propertyaccelerator]

👍