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Councils stifling local housing investment

Councils stifling local housing investment

The majority of landlords considering future property purchases plan to buy in their local area, according to the latest research from the National Landlords Association (NLA).

Three quarters (75%) of private residential landlords say their next property purchase will be close to home or in or around the area that they currently live. 10% say they plan to purchase within a 100 miles radius, while just 9% say they plan to buy further afield.

The news comes as more and more councils across the country are turning to costly and ineffective landlord licensing schemes which could have a detrimental effect on local investment.

NLA chairman Carolyn Uphill, Chairman said: “Local investment in housing is essential if towns and cities across the UK want to attract people and business to the area. The private rented sector (PRS) is growing at a steady rate but we still need further investment in housing if tenant demand across the UK is to be met.

“These findings are positive news and show that landlords can provide a vital lifeline for local councils who struggle with the ever growing demand for housing in their area.

“It means that councils considering introducing licensing schemes should take these findings on board as otherwise they will alienate a significant proportion of landlords and in doing so deter much needed investment”.