Over 1.75million people are landlords

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Number or Landlords rose 7% in 2013/14 based on data from HM Revenue & Customs

Fresh data revealing that the number of landlords in the UK rose by 7% in 2013-14 to reach 1.75m.

Figures from estate agent ludlowthompson, based on data from HM Revenue & Customs, showed 1.75m people declared income from property during the year, up from 1.63m in 2012-13, as they seek to take advantage of attractive returns from but-to-let that currently beat all other mainstream investments, including commercial property, UK government bonds, shares and cash.

Landlords collectively earned £14.2bn in net income from their rental properties during the year, up from £13.1bn the previous year.

“The returns routinely outperform those of other investments,” said Stephen Ludlow, chairman of ludlowthompson.

The data provided by HMRC is the latest available on landlord numbers, but the actual volume is widely expected to have increased since, as indicated by a surge in mortgage borrowing by landlords ahead of the stamp duty change on 1 April.

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Written by: Houseladder