To sell the property or keep renting out

Mrs_Z

For no better reason than a gut feeling, I'd also sell now.
If you are looking to buy in the next 1,5-2yrs - that is a short time and you'll be in a good position to progress with the purchase and not having the extra headache stressing and finding a buyer then. I doubt that the house prices will raise a lot in the next few years - if anything, they may come down.  People are having to spend more money on other things like electricity, food, gas etc - i think it will have a knock on effect on property (less demand).
With rentals, you could have lots of trouble with tenants - not affording to pay the rent with the massive energy price increases and you could end up out of pocket.

fizio

a slight counter point as teh majority as going for the sale option. I would keep it as assets are usually a good bet against inflation. There is a ridiculously high level of demand for rentals and no sign of it slowing and also no real sign of house prices doing anything negative. The alternative of the stock market is not in great shape either so you will essentially lose money by keeping cash. Obvioulsy there is a degree of risk with BTL that you may or may not want

Having said that I have no idea if the property is in a quality/desierable area or more housing benefit types and tax can make a huge difference so, in your case, selling up may work out as the best option.

All you can do is make the best decision based on the information and personal circumstances and then stick with it.

Girlinblue

Wow! I was away from my computer for a couple of days and just found so many very valuable responses! Thank you all, really grateful. Yes, the majority if leaning towards us selling it which is what we've decided to do based on my calculations and your suggestions. If the sale goes through, I'd be glad to see it go, to be honest.. It's a lovely house in a great location but has already caused me some headache with tenants, etc in the past. Thank to you all once again. I'll just hope that the market won't be too cruel to us all. 

Millyonare

Looks like ~80% of the "votes" so far opted for "sell".

garyelder

Get your dosh pay a bit of capital gains and enjoy life 

Stubod

+1 more for selling...too much hastle these days!!