Despite increased speculation about landlords’ intentions in the UK property market, a new survey by The Deposit Protection Service (DPS) reveals that the majority who intend to buy another investment property are looking to do so during the next two years. And many are prepared to buy outside their usual locality.
The survey of more than 2,000 landlords revealed that one in ten respondents are currently intending to expand their portfolio, with 60% of that group saying they may do so within the next two years.
According to DPS, 21% of those looking to buy within two years said that they were considering buying in a different area from where they live, with 70% saying that they were specifically looking to buy a terraced house.
DPS managing director Matt Trevett (pictured) comments: “The survey helps us gain insight into the purchasing intentions of landlords across England and Wales.
“The economic pressures that are affecting most sectors will inevitably also influence the strategies of buy-to-let property owners too, although it’s interesting to note that most landlords who intend to increase their portfolios are considering doing so over the next two years”.
He adds: “Our regular surveys of both landlords and tenants mean we can share valuable insight with our customers and the wider industry and, combined with largest database of domestic private rental figures across the UK, help us reveal a detailed picture of trends in the private rental sector.”
Zephyr Homeloans managing director Paul Fryers who helped organise the survey suggests financial pressures on landlords may mean they look further afield to buy property to suit their own budgets and to find the best rental yields.
“Although our buy-to-let customers invest in properties all over the UK, we have seen particularly high activity recently across East Anglia, the North West, the South East as well as Yorkshire and the Humber.”
