The proportion of landlords across Britain who are based overseas has more than halved in the past eight years, analysis suggests.
Hamptons said that in 2010 when its records started, overseas-based landlords let 14.4% of privately-rented homes across Britain.
But across the first 11 months of 2018, the proportion stood at 5.8% – the lowest level it has recorded.
London has seen a particularly sharp drop-off in overseas-based landlords, according to the figures, which are based on data from letting agent Countrywide Group.
One in four (26%) homes let in London were owned by an overseas-based landlord in 2010, but this now sits at one in 10 (10.5%) homes.
Despite the decrease, London still has the highest proportion of homes let by overseas-based landlords when compared with elsewhere in Britain, the report said.
Aneisha Beveridge, head of research at Hamptons International, said: “The proportion of homes let by an overseas-based landlord has more than halved since 2010.
“Sterling’s depreciation since 2016 undoubtedly makes it cheaper for international buyers to purchase property in Great Britain.
“However, the conversion of pounds back into local currency means additional costs which cut into an overseas landlords’ monthly income.
“This, combined with a harsher tax regime for overseas investors, is dissuading some international investors from entering the rental market.”
Here are the proportions of landlords based overseas by region, according to Hamptons International:
– London, 10.5%
– Yorkshire and the Humber, 6.7%
– South East, 6.1%
– Scotland, 6.1%
– South West, 5.6%
– East, 5.6%
– North West, 5.4%
– North East, 5.3%
– West Midlands, 4.4%
– East Midlands, 3.5%
– Wales, 3.3%
