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Rising Rents and Shrinking Supply as Landlords Exit UK Housing Market

  • Landlords in Yorkshire are abandoning the buy-to-let market due to rising interest rates that have increased costs.

  • This has led to a shrinking supply of rental properties but surging demand, driving up rents across the UK.

  • The sales market in prosperous areas like the "golden triangle" is holding up well, but slower in mid- to lower-priced homes.

  • The Bank of England keeping interest rates steady is welcomed, as it may forestall an implosion of the housing market.

  • After slowing over the summer, estate agent inquiries picked up again in October as buyers look to make decisions despite economic uncertainty.

theguardian.com
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