The latest Ministry of Housing report shows that almost 4,000 buy-to-let properties are being sold by landlords each month, resulting in the first recorded decline in the number of rental properties in 18 years.

The figures show the number of privately rented homes in England fell by 46,000 to 4.79 million last year, the largest reduction since 1988. Recent figures from UK Finance also reveal that there were just 5,500 new buy-to-let home mortgage purchases completed in March, some 19% fewer than in the same month last year.

These figures come two years after the introduction of new tax measures, including the 3% extra stamp duty introduced on homes bought to let and the limiting of mortgage interest tax relief.

 

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