May

Housing Stock Trend reflects recent decline in Buy-to-Let

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Housing Stock England:

Figures just released from the Ministry of Housing, Communities and Local Government (MHCLG) in their Dwelling Stock Estimates 2017, England, report, show the latest available view of the housing market in England.

The figures represent estimates of the number of dwellings in England in each local authority district based on the 2011 Census, after applying net changes to the housing stock.

Estimates for Scotland, Wales and Northern Ireland, Great Britain as a whole and the UK are also available in the live tables on the MHCLG website.

These latest available official figures show a fall in the number of private rented sector homes available for letting, which might suggest that some landlords have been deterred following when the recent restrictive tax changes taking effect.

An important question arises; have even more landlords decided to quit the sector since the period after these figures, over the last year?

The national estimates as at March 2017:

There were 23.9 million dwellings in England at 31 March2017, an increase of 217,000 dwellings (0.92%) on the same point the previous year.
1 million dwellings were owner occupied dwellings, 4.8 million private rented dwellings and 4.0 million social and affordable rented dwellings (Private Registered Providers plus Local Authority).
Between March 2016 and March 2017, the owner occupied dwelling stock increased by 262,000 and the private rented stock decreased by 46,000. The social and affordable rented stock increased by 3,000 dwellings and the other public sector stock decreased by 1,000 dwellings.
There were 605,891 vacant dwellings in England on 2 October 2017, an increase of 16,125 (2.7%) from 589,766 on 3 October 2016. Vacant dwellings are 2.5 per cent of the dwelling stock.
Long-term vacant dwellings numbered 205,293 on 2 October 2017, an increase of 5,148 (2.6%) from 200,145 on 3 October 2016. Long-term vacant dwellings are 0.9 per cent of the dwelling stock

Showing a consistency between these and The English Housing Survey, these statistics show a quite alarming level vacant dwellings in England on October 2, 2017, at 605,891, representing 2.5% of dwelling stock and an increase of 16,125 (2.7%) from 589,766 on a year earlier.

Housing Stock Trends

Source MHCLG

Private rented stock declined by around 46,000 homes after many years of increases. Could this be the result of the 3% stamp duty surcharge on second homes, and the four-year phased-in abolition of mortgage interest relief?

Read the full report here:

Dwelling Stock Estimates: 2017, England

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