The coming 12 months look set to be a boom time for buy-to-let investors, with many looking to significantly increase their property portfolios.
Research conducted by specialist mortgage provider Paragon found that landlords are practically falling over themselves to invest further funds in bricks and mortar at present despite the traditional market being subdued.
Indeed, more than a fifth of those surveyed said they will be making more property investments in 2012.
While in contrast, less than one in ten landlords claimed that they will be looking to reduce the size of their buy-to-let portfolios in the 12 months.
Thanks in part to a loosening of lending restrictions from banks and building societies, the number of properties owned by rental magnates has risen to an average of 13 this year and will continue to rise further in the next year.
Terraced property remains the most popular choice for landlords with 65 per cent of respondents saying that they owned at least one.
This was followed by flats or apartments, which are owned by 58 per cent. Semi-detached homes made up part of 48 per cent of landlord's existing portfolios while 24 per cent own a House of Multiple Occupancy (HMO).
Of those questioned 77 per cent stated that they were positive about being a landlord, while 57 per cent said prospects for the rental sector in 2012 were either "good" or "very good".
"This is an interesting time for the private rented sector as landlords are experiencing very high levels of tenant demand as other areas of the housing market come under increasing strain," John Heron, Paragon Mortgages managing director, said.
"I am pleased to see that landlords are expecting to add to their portfolios as there is no sign that tenant demand is going to slow in 2012."
Iqbal Hussain, property consultant at Knight Knox International, recently said that now is the best time to buy for anyone wanting to dip their toe into the property rental market.
Property News Magazine
No comments:
Post a Comment