By Chris Burn

Published 23rd Feb 2023, 05:45 BST

According to recent research conducted by BVA/BDRC on behalf of the National Residential Landlords Association, there has been a severe decline in landlord confidence over the last three months with many facing substantially higher mortgage costs.

Reasons given for softening demand for rental properties in the Yorkshire and Humber region include ‘financial uncertainty’, ‘increased cost of living’ and ‘people moving out to lower cost areas.’

But the average number of properties that landlords in the region manage is 13 properties – the highest of all the regions. The average length of time for tenants to stay in a rented property is around 4.5 years.

A general view of housing in Scarborough, North Yorkshire.

Martese Carton, Director of Mortgage Distribution at Leeds Building Society, said: “Yorkshire has over 100,000 landlords and there is little doubt that they are currently facing real financial challenges.

"This research lays bare the pressures that they face as they try to balance their own needs along with trying to protect their tenants through the cost-of-living crisis.

“Despite the general negative view on the future of the Buy to Let market, landlords are still reporting that demand for rented property is up in most areas – a reflection that a lot of people who may have wanted to get on the housing ladder are now having to look towards the rented sector as a stop gap until they can afford to buy a property of their own.”

According to recently released HMRC data, there are over 100,000 landlords in Yorkshire.

Leeds has the second largest number of landlords in the country at 24,450 – just behind Birmingham with 27,060.

Bradford and Sheffield both have more than 14,000 landlords, with over 10,000 in Harrogate and 8,000 in York and Wakefield.

Yorkshire's 100,000 landlords 'facing real financial challenges', says Leeds Building Society director