HomeAutomotive FinanceNearly third of landlords seeking to purchase extra property

Nearly third of landlords seeking to purchase extra property

Round 32 per cent of buy-to-let landlords need to purchase property within the subsequent 12 months, a survey has discovered.

Based on a Landbay survey of round 1,100 landlords, inside these wanting to purchase, over three quarters say they’re constructing their portfolio.

Over a 3rd pointed to the rise within the variety of tenants and an additional third pointed to the drop in home costs as a motivating issue.

Roughly 44% per cent of these intending to purchase have been portfolio landlords with 11 or extra properties and 26% had between 4 and 10 properties.

Solely 30 %of landlords proudly owning one to a few properties have been seeking to purchase extra rental properties.

Almost half of landlords in Midlands and the East of England have been planning on shopping for within the subsequent 12 months, adopted by 39% within the North and 23% within the London and the South.

1 / 4 of landlords have been uncertain of their future plans relating to shopping for however stated if the best alternative got here up they’d contemplate it.

Round 43% of landlords weren’t seeking to purchase property citing lack of funds, rate of interest rises and upcoming regulation from the Renters Reform Invoice.

Landbay: ‘Alternatives on the market’

Rob Stanton, Landbay’s enterprise improvement director, stated: “Regardless of the varied pressures buy-to-let landlords are going through, there may be nonetheless urge for food for additional home buy. We all know there’s a large demand for rental property and this is among the causes landlords are actively seeking to increase their portfolios. They’re additionally keeping track of falling home costs and different landlords promoting up.

“Whereas it’s true that larger rates of interest are pushing aside some landlords, for others there are alternatives on the market. That is extra noticeable within the Midlands and the North of England, with the South, usually costlier, proving much less standard for property buy.”



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