Landlords eye more properties as tenant demand rises

Landlords eye more properties as tenant demand rises

0:02 AM, 5th July 2023, About 10 months ago 2

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A survey reveals that landlord confidence is strong as 41% of landlords say they are planning to buy more properties over the next 12 months.

Landbay has polled 1,127 landlords and found that the main reason for expanding their portfolio was the high demand from tenants, cited by 35% of respondents.

Another factor was the possibility of lower house prices, which attracted one-in-three landlords, although this is lower than the 54% who pointed to dropping house prices in the previous survey.

Landbay also reveals that the most ambitious landlords were those with 11 to 20 properties, with more than half (54%) saying they wanted to buy more.

However, landlords with smaller portfolios of two or three properties were also keen to grow their business, with 44% expressing their intention to do so.

‘High tenant demand serves as a key driver for landlords’

Paul Brett, Landbay’s managing director of intermediaries, said: “Once again high tenant demand serves as a key driver for landlords to consider expanding their property portfolio.

“And while house prices have remained more robust than some landlords previously predicted, high rental yields are clearly still tempting some to landl.”

He added: “Rather than the buy-to-let market languishing and lots of landlords exiting as some commentators have suggested, this data shows landlords are still seizing the opportunities available.

“We mustn’t forget those that are undecided though, bogged down by the state of the wider market or the anti-landlord environment we find ourselves in.”

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northern landlord

10:45 AM, 5th July 2023, About 10 months ago

I wonder which landlords get asked to take part in these surveys. Only a month or so back it was reported that more than 40% of landlords would sell up if interest rates hit 4.5%, which of course they did. So is it a logical conclusion that the 40+% of landlords selling due to rate rises are in fact selling to the 41% of landlords who are looking to increase their portfolios? Of course it isn’t, what people say in surveys and what they do in practice are normally two different things.
Landbay make a living providing mortgages to BTL landlords so they have a vested interest in talking the BTL situation up.. This article comes along while the property press is full of articles pretty much on a daily basis about landlords selling up and a dire lack of properties to rent. If you become a BTL landlord now you might get a high rent for as long as your tenants can afford it but the rent will be swallowed up by increased finance costs.

Reluctant Landlord

21:30 PM, 6th July 2023, About 10 months ago

Government desperation propaganda machine on overdrive!

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