London’s landlords head North for higher returns
2 years ago | 7 comments
Landlords still keen to buy despite challenges, survey shows
12:02 AM, 27th October 2023, 2 years ago
5
Nearly a third (32%) of buy to let landlords are planning to buy more property in the next 12 months, despite the challenges posed by higher interest rates, a survey reveals.
The research from Landbay also reveals that 43% of landlords are not intending to buy any more property soon.
The main reasons for this were the lack of affordability and the impact of the Renters (Reform) Bill, which will end section 21 ‘no-fault’ evictions.
Another 25% of landlords were undecided about their plans, but some said they would consider buying if they saw good opportunities and other landlords selling up.
‘Pressures buy to let landlords are facing’
Landbay’s business development director, Rob Stanton, said: “Despite the various pressures buy to let landlords are facing, there is still an appetite for further house purchase.
“We know there is a big demand for rental property, and this is one of the reasons landlords are actively looking to expand their portfolios.
“They are also keeping an eye on falling house prices and other landlords selling up.”
He added: “While it is true that higher interest rates are putting off some landlords, for others there are opportunities out there.
“This is more noticeable in the Midlands and the North of England, with the South, typically more expensive, proving less popular for property purchase.”
Those who are investing are portfolio landlords
The survey also showed that most of the landlords who are investing are portfolio landlords, with 44% owning 11 or more properties and 26% owning between four and 10 properties.
However, smaller landlords are also looking to grow their portfolios, with 30% owning one to three properties.
The survey’s regional breakdown shows that landlords in the Midlands and the East of England were the most likely to buy more property in the next year, with 46% saying they would do so.
They were followed by 39% of landlords in the North.
In contrast, only 23% of landlords in London and the South said they would buy more property in future.
Tags:
BTL, Buy to let, Buy to let survey, landbay, Landlords, Midlands property investment, Property, Rental market, Renters Reform Bill, Section 21 Evictions, UK, UK Landlords
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Poll of hoe many ?
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11:50 AM, 27th October 2023, About 2 years ago
lies lies and statistics.
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7:21 PM, 27th October 2023, About 2 years ago
A loan company saying landlords are buying properties to try and drum up some business , who’d have thought ? .
I don’t know 1 landlord who’s thinking of buying but know a few selling right now and in Scotland
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11:07 PM, 27th October 2023, About 2 years ago
So two thirds are not planning to buy, despite record increases in rents. Lies, damned lies and statistics.
Member Since February 2022 - Comments: 206
9:09 AM, 28th October 2023, About 2 years ago
Mr Stanton, Always looking to expand and I’ll buy through Landbay if you drop your extortionate fees from 7% to a reasonable 2% and your rates to sensible levels. Until then survey says….. “no” for me! Money is staying put in high interest accounts with a much better return than BTL’s at the moment. Can’t think anybody who would invest at the current rates today.