Articles by Nick Clay
In Focus (2024 Qtr 4): Disputes, diversification and the planning process
For this edition of In Focus, over 1,200 landlords participated in the on-line fieldwork. This edition looks at the landlord experience of dealing with property maintenance and management issues which are reported by tenants. Once again, the reality of landlord-tenant relations is somewhat more dull than the narratives painted in the media. Also in this edition, some of the barriers preventing landlords from diversifying their portfolio are identified.
Landlord Confidence Index (LCI) No.24: 2024 Q4
This is the final edition of the Landlord Confidence index in this form. Confidence recovered somewhat from the previous quarter's plunge, but the recovery is far from a "rebound". In Wales, confidence continues to drift downwards. Signs that demand is cooling indicates a market which is heading towards a new equilibrium, but with further cost rises and regulatory change coming down the track, the news for tenants in 2025 may not be positive....
A deep dive into BTL lending: interest rates are still driving rents upwards
The NRLA have updated its analysis of BTL lending and its impact on the Private Rented Sector. There is a correlation between the rapid interest rate rises experienced in 2022 and the incresed proportion of landlords raising rents for tenants. Many landlords who opted to lock their repayments for a longer time period are now facing increased rates when they return to market.
Renters' Rights Bill – landlords have their [first] say
The fieldwork for the 2024 Qtr 3 consultation was held almost immediately after the first reading of the Renters' Rights Bill before Parliament. The impact of the Bill on landlord confidence is documented elsewhere.This post outlines the first attempt to identify those key areas of concern landlords have about the Bill. More detailed work looking at individual aspects of the Bill will follow.
![Renters' Rights Bill – landlords have their [first] say](https://www.nrla.org.uk/image/2e4ce0383ce4bbf66ea62a99b3a6f2a73766fbb166ada5a049a5934320057b7f:1200:628)
Bidding Wars – what really happens?
In light of comments on "Bidding Wars" during the General Election, the NRLA sought some evidence. Most landlords have not benefitted from higher than expected rents at all over the last two years. The reasons why rents are bid upwards are more nuanced than often portrayed: far from objecting to action on bidding wars, landlords are often in favour.
Landlord Confidence Index (LCI) No.23: 2024 Q3
The fieldwork for this edition of the LCI coincided with the publication of the Renters' Rights Bill. Landlord confidence in England hit an all-time low as landlords reacted to its publication. In Wales confidence also fell back, but Wales retains its position as the location in which confidence among landlords is highest (although the outlook remains pessimistic). There is also much landlord concern about then-potential tax changes the new government might introduce - especially Capital Gains Tax.
Landlord Confidence Index (LCI) No.22: 2024 Q2
Landlord confidence in England continues to fall. The data – with fieldwork completing during the week of the General Election – shows confidence falling in every English region apart from Inner London. Confidence in Wales is higher than any English region - the first time this has happened since the Index was launched in 2019. Even though there are a lot of tenants out there, the proportion of landlords intending to buy continues to fall.
In Focus (2024 Qtr 1): Universal Credit, LHA & the 2024 Budget
Landlord confidence dipped in Qtr 1, ending a mini-run of confidence growth. This quarter the NRLA consultation looked at Universal Credit and landlord experience. Landlords share their views on the recent uplift in LHA and the impact it will have on supply in this segment of the rental market. Political change is in the air and landlords were asked about (i) The Budget and (ii) the issues which will determine where they will cast their vote.
Wales landlords: The impact of macro-economic turmoil
The second wave of the Wales Longitudinal Study examines the macro-economic environment, focusing on how interest rates and inflation impact the Welsh PRS. Analysis conducted by Wordnerds provides insights into the physical and emotional strains landlords face when managing their properties, including rising maintenance costs and frustrations with regulatory changes.
Landlords and the General Election: How might landlords vote?
In the first quarter of 2024 landlords were asked how they would decide how to vote. How important would party-policies towards the PRS be in getting the "landlord vote"? With the election suddenly looming, this post outlines the policy areas which may sway the votes of landlords.
