Landlords flee Scotland in face of radical SNP-Green crackdown

Landlords are fleeing Scotland in the face of a “devastating” assault on property investors. The share of properties bought by landlords in Scotland fell to 6.7pc in the first two months of 2024, the lowest share for this time of year since records began in 2010, according to data from estate agency Hamptons. Meanwhile, the number of homes bought by Scottish landlords in England and Wales in January and February doubled from 3pc in 2021 to 6pc this year, as Scotland’s rent controls push investors to buy elsewhere. It comes after Humza Yousaf’s SNP-Green government published radical plans to implement further market controls which could give local authorities powers to create rent caps as low as 0pc for up to five years. Other proposals in the Housing (Scotland) Bill include allowing courts to delay evictions during the winter months, and preventing landlords from “unreasonably refusing” pets or requests to paint the walls. The legislation doubles down on the 3pc cap on rent increases introduced by former first minister Nicola Sturgeon in September 2022. The move has backfired on tenants, with Scotland suffering the largest rent rises of anywhere in the UK. The 3pc cap is due to expire on Sunday....

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