The UK has seen a remarkable rise in buy-to-let businesses, which now constitute the largest business sector, outpacing fast food and hairdressing. Recent statistics show that the number of companies holding buy-to-let property has exceeded 400,000, a drastic rise from approximately 93,000 in 2016 due to tax changes. Although many smaller landlords are selling properties due to mortgage costs, average rents have seen a modest increase, providing some relief to tenants after a period of significant hikes.
Buy-to-let businesses have now become the most prevalent business type in the UK, surpassing traditional sectors like fast food and hairdressers.
Research from Hamptons indicates that over 401,000 companies now hold buy-to-let properties, reflecting a strategic shift among landlords due to tax relief changes.
Despite the growing number of buy-to-let companies, the rental sector faces pressure, with higher mortgage costs leading many smaller landlords to sell their investments.
Good news for tenants: while rent increases have slowed, the average monthly rent for new lets in Britain rose only 1% year-over-year.
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