According to an article in the ‘Economist’ magazine, rents from ‘buy-to-let’ are estimated to bring in rents of between £55 billion to £65 billion a year. One in thirty adults is believed to be a landlord (and one in four MPs!).
An argument against ‘buy-to-let’ is that it helps to push up house prices making it harder for first-time buyers. Against this supporters suggest the phenomenon helps to boost housing supply.
We contend that it would be better if houses were either bought directly for people to live in or purchased by housing associations to rent out. Ideally surplus rents should be used to support housing rather than landlords.
[Oh and the ‘Economist’ seems to have fallen for the myth that planning rules are restricting supply!]