LONDON: In 2017 overseas based landlords own 5% of all homes let in Great Britain, down from 12% in 2010 (table 1). London has seen the biggest fall in the proportion of homes owned by overseas landlords, from 26% in 2010 to 11% in 2017. Landlords based in Asia took over the Europeans as the largest group of overseas landlords in London in 2014. Rents rose 1.1% year-on-year across Great Britain in June to stand at £950 pcm.
Countrywide’s Monthly Letting Index published today, shows that the proportion of overseas based landlords in Great Britain hit a record low in 2017. Overseas landlords owned 5% of all homes let in Great Britain in 2017, down from 12% in 2010 (table 1). London has seen the largest fall with one in ten (11%) homes let this year owned by an overseas landlord, down from one in four (26%) in 2010. In prime central London overseas based landlords owned nearly a third of all homes (31%) let in 2010, a figure which has fallen to 23% in 2017.
The number of European based landlords has been gradually falling over time, more so than any other nationality. In 2010 they made up 39% of all overseas landlords in London, but now account for 28%. They were the biggest group of overseas investors in London until 2014. Asia based landlords are now the biggest group of all overseas based landlords in the capital (33%), followed by Europeans (28%), North Americans (10%) and Middle Eastern (9%). Outside of London, Europeans (37%) remain the biggest group of overseas landlords.