There’s no doubt that 2016 was a torrid year for landlords. What with the introduction of the 3% stamp duty surcharge, the scrapping of the 10% wear and tear tax relief and the phasing out of mortgage tax relief which kicks in from April this year, landlords could be forgiven for thinking that they were being picked on!
Despite this, the trend for the private rented sector is still on an upward trajectory. Analysis published by accountancy firm PwC predicts that by 2025, 7.2 million households will be in rented accommodation. This compares with 5.4 million in 2015 and 2.3 million in 2001.
John Goodall, CEO and founder of Landbay, the peer-to-peer lending company, said : “Demand for rented accommodation will remain robust in 2017, as the myriad threats of rising house prices, falling real incomes and rising inflation affect the ability of aspiring homeowners to get their foot on the housing ladder and save for a deposit.”
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