Letting agents forecast lower property supply
![ARLA also found that supply of rental accommodation also grew in November. Picture: TSPL](https://www.scotsman.com/webimg/legacy_elm_43207902.jpg?crop=3:2,smart&width=640&quality=65&enable=upscale)
![ARLA also found that supply of rental accommodation also grew in November. Picture: TSPL](/img/placeholder.png)
The Association of Residential Letting Agents (ARLA) revealed the findings from its monthly private-rental sector report, noting the impact of the Chancellor’s announcements around buy-to-let tax in his autumn statement.
This involved a 3 per cent increase in stamp duty for buy-to-let (BTL) and second homes as of next April to help first-time buyers.
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Hide AdDavid Cox, managing director of ARLA, said: “The new stamp duty increases will make owning a BTL unprofitable for a lot of landlords, and certainly make new investors think twice about purchasing a BTL property.”
However ARLA also found that supply of rental accommodation also grew in November, rising by 9 per cent month on month to reach 189 properties managed per branch.