Northern landlords face biggest hit to house price values

Landlords in the North East will be hit by the biggest house price falls next year. House prices in the North East will fall at the fastest rate in the country next year, down 9.1%, according to a forecast by the Centre for Economics and Business Research. The price drop was forecast just as the buy-to-let investor share in the North East hit its highest level on record since 2012, according to Hamptons, which analysed data from Countrywide. The landlord buyer share in the north East is more than double the national average. In the year to date, landlords accounted for 26.2% of all sales in the region, a jump from 15.2% in 2019. This was the highest share in the country and more than double the national landlord buyer share of 12.7%. David Fell, of Hamptons, said: “This is essentially a product of landlords chasing yields up north and buying into the end of the house price growth cycle.” The North West will record the second largest regional price drop in the country, with values falling 6.7% in 2023. In Yorkshire and the Humber, prices will plunge by 6.6%. The respective landlord buyer shares here are 16.9% and 15.5%.

The Daily Telegraph