Is Labour teetering on the edge of a rental market collapse? – Property Reporter
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“It seems that our new Labour government is picking up where its predecessors left off within the rental market landscape, driving legislative changes designed to deter landlords from the sector”
– Jonathan Samuels – Octane CapitalWith Labour planning a capital gains tax attack on landlords in the Autumn Statement, Octane Capital commissioned a survey of UK landlords to gauge current sentiment within the sector.
The survey found that no less than 66% said they had already reduced the size of their investment portfolio in the last year, with reduced profitability due to previous legislative changes cited as the primary reason for these reductions.
The proposed rental market reform which includes the ban on Section 21 Notices also placed highly along with the inevitable increase in age, as many approach retirement.
52% of those surveyed also stated that when it came to their investment into the rental market, they feel less confident under the new Labour government and as many as 75% said that they are concerned that the current government may equalise capital gains tax in line with current income tax thresholds in the upcoming Autumn Statement.