Having said that, new research has revealed that the vast majority of landlords are happy with the current environment and are looking to expand their portfolios in the next 12 months. That’s according to The Property Hub, with their latest survey revealing that a staggering 80% of property investors are seeking to expand their portfolios and interests in UK property.
Extrapolating that data across the current market would see a huge increase in the interests of 1.95 million current landlords. Further to that a massive 70% said that a no-deal Brexit wouldn’t affect their investment plans, with 66% saying they have no plans to sell up even if the government were to announce further tax changes.
84% said they had no plans to sell any of their properties, signifying a huge show of confidence in the market from landlords and investors. Whilst perhaps it can be said that central London isn’t quite at its healthiest point there is still real buzz and activity on the outskirts of the city as price contraction is shifting attention away from some of the classically popular areas.
Cities such as Manchester, Leeds and Liverpool are moving from strength to strength and cities such as Sheffield are benefitting from enormous regeneration plans and investment from central government and local authorities.
When asked about some significant policies that may affect their investment plans 82% said they’d support a three-year tenancy agreement as long as the government made it easier for landlords to evict tenants that were in rent arrears. Asked about compulsory landlords licences the majority said they’d need to see no duplication of local licences, guarantees that it would be enforced properly and that the fees wouldn’t exceed £100 per property per year.
As reported in Property Reporter, Rob Dix, co-founder of The Property Hub, said: “There’s been so much talk of a mass exodus of landlords and the death of buy to let; it’s easy for some would-be landlords or, indeed, tenants, to believe the rental market is on its knees. However, it’s clear from our survey that landlords are far from retreating from the market.”
Certainly it can be seen as a significant reality check for those who may have been influenced by negative reporting of the industry recently, and proof that confidence is high amongst landlords and investors across the country.
With demand higher, supply lower, rents growing and new builds increasing it seems perfectly logical that landlords and investors are feeling good about their prospects in the near future.
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