Property market set to become flooded as 380,000 landlords look to offload property

Many first-time buyers have struggled to get on to the property market. Difficulty saving for a deposit, increasing property prices, mortgage rules and a supply shortage make owning a home harder to achieve.

But some experts say the market will become flooded, making way for plenty of homes for first-time buyers. This is because 380,000 landlords look to sell up their property over the next year.

According to a survey conducted by the National Landlords Association (NLA), 45 per cent of landlords would be selling an apartment or flat. This is bad news for renters, as it could lead to a shortage of homes available for rent. But for first-time buyers, this is good news as the market becomes flooded with properties available to buy.

Richard Lambert, NLA chief executive said: “These findings sound like positive news for potential new homeowners, but the reality is not everyone wants, or is in a position financially, to buy.

“In fact, if all these homes are sold as planned then it will lead to a significant fall in the supply of property available to those who choose to rent or have no other option but to rent.”

Feature image credit: Berkeley Homes

Bea Patel

Bea is the Property Editor for The London Economic. She's also a writer and journalist, writing for a variety of publications and websites, including Estate Agent Networking, The Royal British Legion and The Asian World Media Group. Bea is also Director of a property tech business – Shop for an Agent – an estate agent comparison site that lets homeowners and landlords compare estate agents' fees and services. She has a BSc (HONS) degree in Multimedia Studies from the University of East London.