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The era of investment properties is ending in Britain

The era of investment properties is ending in Britain

Emma Haslett

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In February 2021, Kate and Jason moved with their three sons into a one-bedroom flat in Long Eaton, Derbyshire. By October 2022 it was riddled with mould, one window was wedged open, a wall-mounted kitchen cupboard had almost fallen on to one of their sons, and the shower emitted a burning smell. Warming the house, Jason told the Derby Telegraph, was costing “£10 to £12 [$18-$21] a day”. In an effort to persuade their landlord to fix the problems, the couple withheld £2000 of rent payments; instead, the landlord simply issued an eviction notice.

In the UK the number of homes available to rent fell 49 per cent between March 2019 and March 2022. Getty

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Original URL: https://www.afr.com/property/residential/the-era-of-investment-properties-is-ending-in-britain-20230119-p5cdr1