Just 10% of the landlords planned to exit the BTL market in 2021 and almost 70% will not sell their properties in the new year
According to a new survey from buy-to-let mortgage broker Property Master, 45% of landlords say they are optimistic about the buy-to-let market in 2021.
This compares to 29% who are pessimistic about the buy-to-let market in the coming year; many of these fear landlords would be, in the words of one respondent, “sitting ducks” when it came to raising taxes to pay for the current crisis.
Just 10% of the landlords surveyed by Property Master planned to exit the buy-to-let market in 2021 and almost 70% said they were not about to sell any of their properties in the new year.
Angus Stewart, Property Master’s chief executive, said: For landlords, as for many other sectors, 2020 is a year that brought plenty of challenges. But in the case of landlords, Coronavirus and the resulting economic uncertainty came on the back of a raft of regulatory and tax changes over recent years that have left the sector battered and which saw smaller landlords in their thousands throw in the towel.
However, our survey shows the buy-to-let sector as a whole is a resilient one. Those landlords that have survived may well be stronger and our survey shows them as giving buy-to-let the thumbs up as we move into 2021. We see the year as being one of two halves. There is clearly continued turbulence forecast for the first half of the year as Coronavirus and Brexit play out. But the fundamentals of the private rented sector remain and now more than ever an increased number of people need a good quality roof over their heads, and this will create plenty of opportunity for landlords to do well, Stewart said.
The number of landlords surveyed by Property Master who planned to add to their portfolio in the new year was evenly split with those who had decided in 2021 to stick with their existing property portfolio. Almost 43% of landlords said they planned to buy more property in 2021 and the same number planned to stick with the properties they already had. Almost 13% were undecided.
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