More landlords planning to buy properties, survey shows

Posted on Tuesday, June 4, 2024

Landlord demand remains as strong as ever, as nearly half target buying more property in the next 12 months, Landbay’s landlord survey has revealed. 

Some 44% intend to buy, up from 32% at the end of last year.

Rob Stanton, Landbay’s sales and distribution director, 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.

“We are committed to providing innovative solutions that meet the evolving needs of both landlords and brokers.

“By combining a growing appetite for investment with our expanding product range, Landbay is well-positioned to support the continued growth of the buy-to-let sector.”

More than six out of ten of the landlords intending to buy said their main reason was to build a property portfolio.

Meanwhile nearly a third (31%) said it was because of an increase in the number of tenants, up from 26% at the end of 2023.

Most landlords who will buy are portfolio landlords, with 40% owning 11 or more properties and 42% having between four and 10 properties.

Some 19% were smaller landlords who own one to three.

Landlords in some parts of the country were more confident than others. A higher proportion of landlords in the South East (28%) said they were intending to buy another property in the next 12 months but only 13% said they would do so in London.

But landlords’ confidence levels in in the Midlands, the East of England, and in the North were similar, with just under a quarter in each area saying they would buy,

Some 40% said they were not looking to buy property.

Just under 30% said they were looking to sell some of their properties over the next 12 months.

They expressed concerns about fluctuations in mortgage interest rates, difficulties in evicting tenants and landlord taxation.

Via @PropertyWire