Almost all landlords are considering increasing rents to pay for the higher taxes they now face, according to a survey by the Residential Landlords Association (RLA), which found that 84% of private sector landlords are likely to consider increasing rents following the Chancellor’s recent tax assault on the buy to let sector.

The survey also found that 78% of landlords felt that the changes would deter them from investing in more properties to rent with half considering getting rid of properties. This is in the face of rising demand for rented housing with Savills predicting that 1m new homes to rent will be needed by 2021.

In a statement the RLA said that whilst fewer buy-to-lets being bought might meet the Chancellor’s desire to free up some properties for homeowners, for the increasing number of people who cannot afford to buy or who prefer not to, the tax changes will make it more difficult and more expensive for them to access housing.

The RLA is calling on the Government to exempt from the 3% stamp duty levy all rental property making a net increase in the supply of new housing. 39% of landlords reported that they would be more likely to invest in new build rental housing if this was exempt from the levy.