Insurance News Archive

'Accidental' property owners set to leave the market

Many property owners will look to take advantage of a predicted rise in house prices during 2012, leading to an exodus of so-called 'accidental landlords', the chairman at the Residential Landlords Association (RLA) has said.

Alan Ward has suggested that many of these owners who have forced to rent out property because of the inability to sell, will look to sell in 2012 and this could have major ripples on the market in general.

As many as 100,000 properties could be classed in this bracket and the ripples of this could be felt in other fields such as commercial property insurance or renting markets.

Mr Ward said: "There is a sector of the market that is likely to come to sell as property values begin to increase - these are the accidental landlords who have been forced to rent because they can't sell for whatever reason."

Zoopla.co.uk recently reported that buying now beats renting in 47 of the 50 largest towns across the country.

Posted by Judith Stevenson

30 Dec 2011