There is a considerable increase in the number of properties that were privately rented out and are now being sold in London according to an industry consultancy’s research.

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The company’s research figures found that in July 2024 8006 properties which accounts for 22% of the listed number of homes for sale in Inner London, were rented out in the last decade and this figure marks a 10 year high.

Whereas a year ago in July 2023 it was 15.6%  with 4005 properties that were previously rented out and in July 2019 it was 12.9% with 2,684 properties.

Meanwhile the number of previously rented homes listed for sale across the UK was just 9% in July 2024,?highlighting?how the trend is highly concentrated in the capital.?

The analytics company’s chief executive Colin Bradshaw says: “Aside from mortgage increases, landlords have growing fears around a possible rise in Capital Gains Tax and compliance demands for energy efficiencies. Overall, the rental sector has become much more expensive and unpredictable for landlords over the last decade.

“Landlords selling now?obviously comes at a very difficult point for the private rented sector (PRS). Available properties to rent are at their lowest since we have been recording data in the last 15 years, now at 276,000 in July 2024 for the whole of the UK, compared with 369,000 in July 2019 - a reduction of more than 25%.”