Over-regulation 'threatens rental market'
Central government must be careful to avoid over-regulating the rental market if it wishes to allow the sector to continue its positive growth, one leading industry group has claimed.
The Residential Landlords Association (RLA) said that landlords are always able to sniff out favourable profits margins, so the government should take a back seat and allow the market to regulate itself.
"Experienced landlords will always buy if they consider they are getting value for money," noted RLA chairman Lee Dribben.
He held up reform to capital gains tax as one area where there is potential for negative consequences on the sector, but insisted that at the moment it is still unclear what impact - if any - they will have.
"One great unknown is whether the April capital gains tax changes will result in a glut of investment properties for sale," he said, alluding to the diminished profits that the abolition of tapered relief could have on some landlords.
According to recent research by Paragon Mortgages, an average property purchased a year ago will have generated overall returns of 21.3 per cent when you take into account both capital gain plus rental income.
Published 10th March, 2008
© 2008 Estates IT Limited
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Central government must be careful to avoid over-regulating the rental market if it wishes to allow the sector to continue its positive growth, one leading industry group has claimed.