This increase does not yet take into account the recent surge in buy to let purchases and so the number of UK landlords is set to increase again when the annual figures for 2015/16 are disclosed.
Whilst purchases prior to 1 April 2016 will have escaped the recent stamp duty increase, landlords must now consider their portfolios in anticipation of the tax relief changes to be implemented next year. The number of possessions and rent increases may rise in the meantime.
Figures from estate agent ludlowthompson based on data from HM Revenue & Customs showed 1.75 million people declared income from property during the year, up from 1.63 million in 2012-13, as they chased returns on their cash that outstripped other investments. Landlords banked a combined £14.2bn in net income from their rental properties during the year, up from £13.1bn the year before.