Almost half of all landlords in the UK are considering expanding their property portfolio as rental returns continue to rise and a wave of optimism envelopes the buy-to-let market.
A recent survey by Mortgages for Business found 44 per cent intend to invest in at least one additional property in the first half of 2018.
It comes after the Landbay Rental Index reported that rents have risen across every UK region for the first time in 19 months. The index shows a 0.07 per cent rise in rents in January, meaning the average rent now stands at an all-time high of £1,198 pcm, 0.66 per cent higher than it was this time last year.
Allison Thompson, managing director at property specialist Leaders, says: “Market conditions have changed for the better for landlords in recent months and there is a widespread feeling of positivity across the rental sector.
“This is highlighted by the fact almost half are now considering investing further in order to increase the size of their property portfolio and ultimately their return.
“It is also further proof that property continues to be an extremely attractive investment option. Despite several tax and legislative changes in the last 18 months that have presented new challenges for landlords, the majority are still full of confidence and enjoying the benefits of their investments.
“With rents continuing to rise and house prices at strong levels across the country, there are plenty of reasons to expand a portfolio or complete a first-time investment.”
Rents increased by the largest amount (0.18 per cent) in January in the East Midlands, followed by the east of England (0.13 per cent).
Allison adds: “For the best results, investors should seek the advice and support of a local letting agent who will be able to provide all the insight required to ensure landlords acquire the right type of property in the right location at the right time. There are thousands of excellent investment opportunities available and expert support will ensure you pick the best one.”
For more information or advice on investing in property contact your local Leaders branch.