A sharp rise in the numbers of "accidental landlords" - Business - Evening Standard
       

A sharp rise in the numbers of "accidental landlords"

The stalled housing market has led to a sharp rise in the numbers of "accidental landlords" according to Nationwide.

These are people who have moved home but rather than sell their old house have decided to rent it out and wait until the market recovers before selling.

The surge in the numbers of these "accidental landlords" has limited the supply of homes coming onto the housing market and inflated the amount of property coming onto the rental market. That has forced rent levels down quite sharply since the start of the year.

But now, according to Nationwide, the rate of increase in "accidental landlords" appears to be tapering off. The building society warns that this could lead to a sudden surge in homes being put on the market, which could force prices down again.

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