According to research released this week, Landlords’ optimism is on the rise. The research, carried out by Mortgage lender, Paragon, revealed that buy to let investors are predicting that the number of properties in their portfolios is set to rise for the first time in two years.
According to Paragon 23% of landlords feel more confident about the prospects for their property portfolio and on average they expect to have 13 residential properties in their portfolio in a year’s time, compared to 12 at the moment – the first time since 2009 that landlords have predicted a rise.
This is great news and suggests a renewed confidence in the property market. Buy to let landlords tend to invest for the long-term and this intention to buy property and add to their portfolio suggests that they expect house prices to recover and increase in the future.
Now could be a great time for landlords to buy. With the housing market currently remaining sluggish, investors are in a strong position to submit an offer on their chosen property. This coupled with the increasing demand for rental property means that rents are on the rise and void periods are low.