More landlords planning to buy property in the next year

Landlords are showing renewed confidence in the buy to let market, with 44% intending to purchase property in the next year, a survey reveals.

The findings from Landbay show this is a big jump from 32% of landlords planning to do so in a previous survey.

Building a property portfolio is the primary motivator for most landlords looking to buy (61%).

Also, tenant demand for 31% of landlords is another key factor, with 12% investing because they are anticipating potential house price drops.

‘Various pressures faced by landlords’

Landbay’s sales and distribution director, Rob Stanton, said: “Despite the various pressures faced by landlords, there is still an appetite for further house purchases.

“The increase demonstrates the continued attractiveness of buy to let as a long-term investment strategy, which is supported by the strong demand for rental properties.”

The survey also found a regional split in buying confidence with landlords in the South East being the most optimistic (28%), followed by the Midlands, East of England and those in the north – around 25% each.

London lags with only 13% planning to buy.

Landlords looking to sell

While 40% of landlords don’t plan to buy, some say they are looking to sell due to interest rates and tenant eviction concerns.

The survey also suggests a continuing trend of buy to let investment fuelled by portfolio growth and high rental demand.

There are also concerns about landlord taxation among the reasons to sell.

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