In total, 35 per cent of the 1,127 landlords polled say the main reason for buying additional properties is a rise in the number of tenants
Over four out of 10 BTL landlords (41 per cent) intend to extend their portfolio in the next 12 months, according to the latest survey by Landbay.
In total, 35 per cent of the 1,127 landlords polled say the primary cause for buying additional properties is a rise in the number of renters.
Meanwhile, 33 per cent of those surveyed say a potential decline in house prices is the primary reason.
This is 54 per cent lower than the Q4 survey, possibly hinting at house prices not declining as fast as people initially thought.
The strongest intention came from landlords with 11 to 20 properties, with over half (54 per cent) saying they intend to extend their portfolio.
While 40 per cent landlords with over 20 properties shared the same view, so did those with two or three properties in their portfolio (44 per cent).
The findings are disclosed in the latest Landbay quarterly survey, which queries existing landlords on a number of topics to determine their attitude and intentions.
The poll unveils the main issues facing landlords and their thoughts on the future of the BTL market.
Landbay’s MD, intermediaries Paul Brett, states that once again high renter demand serves as a key reason for landlords to think about extending their property portfolio.
And while house prices have remained more strong than some landlords earlier forecasted, high rental yields are clearly still attracting some to explore the sales market.
Instead of the BTL market weakening and a number of landlords exiting as some commentators have proposed, this data shows landlords are still grabbing the opportunities available.
But, Brett says that ‘we must not forget’ those that are unsure because of ‘the state of the wider market or the anti-landlord environment we find ourselves in’.
Brett adds that it is vital for the industry to ‘rally behind these landlords’ by offering them support.