Written by: Anna Sagar
Round 41 per cent of landlords are contemplating property purchases within the subsequent 12 months, in response to a lender survey.
A survey from mortgage supplier Landbay confirmed portfolio landlords had the strongest intention to purchase, with 54% of these with 11 to twenty properties assessing their subsequent acquisitions.
Round 40% of landlords with 20 properties or extra had been planning to increase their portfolio, and 44% of these with two or three properties had the identical intention.
The survey additionally revealed that 35% of respondents who had been contemplating shopping for pointed to the rise within the variety of tenants. This is a rise from 30% in This autumn final yr.
A 3rd stated that the potential drop in home costs was an element of their determination, which is down from 54% in This autumn final yr.
Paul Brett, Landbay’s managing director, intermediaries stated: “As soon as once more excessive tenant demand serves as a key driver for landlords to think about increasing their property portfolio. And whereas home costs have remained extra strong than some landlords beforehand predicted, excessive rental yields are clearly nonetheless tempting some to discover the gross sales market.
“Quite than the buy-to-let market languishing and plenty of landlords exiting as some commentators have steered, this information reveals landlords are nonetheless seizing the alternatives obtainable. We mustn’t overlook these which can be undecided although, slowed down by the state of the broader market or the anti-landlord setting we discover ourselves in.”
He added: “For these which can be nonetheless undecided, it’s essential all of us rally behind these landlords. We’re taking part in our half by fixed innovation and increasing our product line to assist meet a broad vary of landlord necessities.”