Revealed: The UK’s best buy-to-let areas
3 years ago | 3 comments
42% of landlords claim they will buy property in 2023
12:01 AM, 25th January 2023, 3 years ago
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More than four out of 10 buy-to-let landlords (42%) intend to buy additional property this year, a survey reveals.
The findings from Landbay highlights that despite the ongoing pressures on landlords, 79% of landlords wanting to buy say they don’t plan to sell any of their existing properties.
The strongest intention to invest came from landlords with larger portfolios, with half of all landlords with 11 or more properties planning to expand.
One out of five (21%) said they don’t know if they will buy more property, with most of those planning to wait and see what happens in the market.
‘Data shows a real statement of intent among landlords’
Paul Brett, Landbay’s managing director, intermediaries said: “Rather than a ‘mass exodus’, this latest data shows a real statement of intent among landlords to not only maintain their existing portfolios but to expand.
“This is hugely encouraging given the myriad of challenges facing landlords and the wider buy-to-let sector.”
He added: “Landlords will be encouraged by the news of rates trickling down recently.
“With the new year bringing lots of positive indicators for the year, plus strong rental yields still reported by many respondents, landlords clearly have the confidence to push ahead with expansion plans.”
37% not intending to buy property
Meanwhile, many of the 37% not intending to buy property said they are content with their existing portfolio.
In fact, 64% of those landlords don’t intend to sell any homes either.
The survey is part of Landbay’s latest quarterly survey which questions landlords on a range of topics to find out their attitudes and intentions on the future of the buy-to-let market.
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Member Since February 2017 - Comments: 62
8:28 PM, 26th January 2023, About 3 years ago
What a load of smiley……Only the incorporated banks and big companies will be buying as you say those landlords with over 11 properties . The private landlord is selling up and probably put off for life after the back taxing bank sucking legislating government got greedy in order to pay off their failings.
Member Since January 2023 - Comments: 317
8:43 PM, 26th January 2023, About 3 years ago
Reply to the comment left by cashcow at 26/01/2023 – 20:28
What a load of marketing tripe (talking up the market) from Landbay BTL mortgage provider that have very dodgy application/arrangement fees up to 7%!
Most of the PRS landlords in volume terms own a few properties. Those that own >10 are a small minority.
It is the exodus of the long term accidental BTL/smaller portfolio LL that are selling thereby reducing supply. due to Council/Conservative legislation red tape and increasing taxes on LLs (wait till Labour get in- you already have a taste of it with the SNP).