Survey Says - Half of Landlords Looking to buy properties

Posted in Jul 02 , 2024

Of those landlords wishing to buy properties 60% cited the main reason was to increase their portfolio, with 31% saying it was because of the increased demand from tenants; whereas in the previous survey it was 26%. There was 12% who said they were intending to buy properties because they felt house prices would be falling.

Of those landlords intending to purchase more properties 40% have eleven plus properties, 42% own between four to ten properties. Small landlords with one to three properties make up18% of the landlords intending to buy properties in the next 12 months.

Landlords’ confidence levels in purchasing properties differ in various parts of the country, such as a higher percentage of landlords – 28% would buy properties in the South East whereas just 13% were interested making purchases in the capital over the next twelve months. However landlords’ confidence in other areas were around the same level as the South East in the Midlands, the East of England and in the North with just under a quarter stating they intend to buy properties.

The survey also found that 16% of landlords had not made any plans as to whether they would or would not purchase more properties, however this is lower than the previous survey’s findings where 25% said they were undecided.

40% said they had no intention in buying extra properties .However just under 30% stated they will be selling some of their properties over the next twelve months because of increasing concerns over variations in mortgage interest rates, landlord taxation and problems with evicting tenants.

The lender’s sales and distribution director, says: “Despite the various pressures faced by landlords, there is still an appetite for further house purchases. The increase demonstrates the continued attractiveness of buy-to-let as a long-term investment strategy, which is supported by the strong demand for rental properties.”

https://www.pims.co.uk/news-article/half_of_landlords_looking_to_buy/3529/

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