The number of landlords with multiple properties is falling as cuts to tax relief bite
The two decades of fat, lazy profits made on the backs of squeezing as much rental cash as possible out of young adults while smugly sitting on vast unearned house price gains look to be over. This April the final phase of the tax changes on buy-to-let income comes into force, and the good news is that landlords are giving up on the game.
HMRC data obtained by accountants Moore this week show that the number of buy-to-let landlords with multiple properties fell in 2017-18 to 157,000 from 159,000 the year before. The fall may be slight, but it’s important, as it marks the first decline since the financial crisis.
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