Confidence in the buy-to-let market is on the way down, according to letting specialists Upad.
Research from Upad found that there was a 9 per centage point drop in confidence in landlords since April 2012, with 63 per cent confident abut the direction of the market.
According to Upad, factors knocking the confidence include the availability of rental stock outside London, tenant inability to pay rent, LHA benefit cuts and difficulty getting sensible mortgages.
Upad chief executive James Davis said: “The UK private rental sector overall has continued to perform well, hence the majority remain confident. But, that doesn’t mean that there aren’t areas for concern – the 9% dip in confidence highlights this.
“Even though London rents are up to 80% higher than the rest of the UK, the rental market here remains very strong simply due to supply and demand but when you look outside of London we see that the market has slowed.”
