More than four out of 10 buy-to-let landlords – 41% – plan to buy more property in the next 12 months, the latest Landbay landlord survey has revealed.
The main reason for considering buying by 35% of respondents is the increase in the number of tenants – up from 30% of respondents in the Q4 survey. While 33% of respondents said a potential drop in house prices, this is down from 54% last time, potentially pointing to house prices not falling as fast as people originally thought.
The strongest intention came from landlords with 11-20 properties, with more than half (54%) planning to expand their portfolio. While 40% landlords with more than 20 properties shared the same sentiment, so did almost the same number of those with two or three properties in their portfolio (44%).
All is revealed in the latest Landbay quarterly survey which questions existing landlords on a range of topics to find out their attitude and intentions. The survey uncovered the key factors facing landlords and their thoughts on the future of the buy-to-let market.
Paul Brett, Landbay’s managing director, 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 explore the sales market.
“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.
“For those that are still undecided, it’s important we all rally behind these landlords. We’re playing our part through constant innovation and expanding our product line to help meet a broad range of landlord requirements.”