A quarterly survey of buy-to-let landlords by the lending company Landbay revealed that almost half of the respondents (42%) plan to expand their property portfolio in the next year.
Results of the survey
The results of the survey show that there is no mass exodus of landlords as was feared by many given the recent market trends, changes in regulation and the rental reform white paper.
Just shy of 80% of landlords who plan to buy more property say they will not sell any of their existing properties despite these challenges.
21% of the candidates will wait to see what happens to the market and are unsure whether they will buy more property.
37% of landlords are content with their current portfolio and do not plan to expand their property portfolio – with 64% of landlords who do not plan to buy additional property stating that they will not sell any of their existing properties.
This set of data portrays a positive intent amongst landlords, that despite the challenges that face the private rental sector, many are planning to retain and expand their portfolios.
Looking at the market, there seems to be a positive trend across the vast majority of England, read the June 2023 Lettings Market Update for more information about the growing average rent prices, and falling void periods.
Given the large amount of granted planning applications in recent months across the country, particularly in the South East, the slowly-declining rates, and strong rental yields, many landlords have proceeded to expand their property portfolios.
Source – Property Industry Eye
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