Half of current landlords would not enter the buy-to-let market for the first time now.
Rather than invest, they would stay out of the market, citing government intervention, regulatory changes, economic uncertainty and a lack of returns.
Out of 738 landlords asked for their opinions, 40% said they would still invest in buy-to-let, saying it provides better returns than other types of investment and they believe property can still deliver capital growth.
Only one in four landlords said they intended to increase rents over the course of the next 12 months, while a majority of landlords believe they are renting out at least one of their properties below market rental value.
Half (51%) called for the Government to U-turn on policies designed to squeeze private landlords – specifically, the 3% Stamp Duty surcharge on the purchase of buy-to-let properties, and the phasing out of mortgage interest tax relief.
The landlords were taking part in a poll commissioned by mortgage lender Foundation Home Loans.
By ROSALIND RENSHAW
Source: Property Industry Eye