Blog Post No. 149
Are the Government Policies destroying the Buy-to-Let Property Market in 2023?
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In the part II of the Property Market Update Q1 2023, we discuss the challenges of the rental market in prime central London. We discuss this topic with our guests, Tom Bill, Head of UK Residential Research, Marcus Dixon, Director of UK Residential Research at JLL, and Liam Monaghan, Managing Director of LCP.
To listen to the first part of the Market Update, go here .
Landlords are leaving the market due to tax changes, but there is a lack of new landlords entering the market to replace them. This has resulted in a shortage of rental stock and rising prices. Build-to-Rent is part of the solution, but it is only a small proportion of the market and cannot scale quickly enough to meet demand. The rental market needs more regulation, but isolating individual landlords will not help first-time buyers get onto the property ladder. Providing good property management and refurbishing properties can help to manage the situation. However, challenges loom on the horizon, such as the need to bring properties up to a C rating for EPCs, especially in conservation areas. The experts believe that the rental dilemma is an ongoing challenge that will continue to be an issue in the short to medium term, and forecast that rents will outpace prices over the next five years due to a lack of supply.
Marcus Dixon is the Director of UK Residential Research at JLL, where he leads a team focused on generating fresh housing market insights to bolster the growth of the residential business. With over 18 years of residential research experience, Marcus previously worked at LonRes as the Head of Research and Data Analysis, where he established the research department in 2015.
Liam Monaghan is an expert in the Prime Central London property market, with almost 15 years of experience. As the Managing Director of LCP, his knowledge is a valuable resource for clients looking to buy or refurbish properties in the Private Rented Sector and Homeowner markets.
Tom is the Head of UK Residential Research at Knight Frank, where he leads a team that produces reports such as the Super Prime London Insight, London Residential Review, and the flagship Prime London indices. With a background as a former Bloomberg and Reuters property journalist, Tom has contributed to various reports such as The Wealth Report, Active Capital, and Global Cities.
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