0:01 AM, 25th January 2023, About 2 days ago 2
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.
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.”
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.