Even landlords who said they felt more confident now, highlighted areas of future concern:
• Good rental leads but high finance charges stop further expansion.
• I am more confident on the residential market, not commercial. However, given the current economic situation, I feel that rental arrears can only get worse as people are made redundant and benefits are cut.
Many of those saying that they felt more confident mentioned the current ease of finding tenants. One landlord commented:
• The market seems buoyant with any properties that have become vacant this year being relatively easily re-let and in all cases with a rental uplift included! So far so good.
While from those who said they felt less confident, comments included an array of concerns:
• Lenders are cautious generally, about lending money on property and demanding higher deposits and rates well above base rates.
• The most worrying thing is the housing benefit sector tenant.
• I’m concerned about tenants’ ability to pay.
• House prices are gently sliding backwards which makes returns more difficult.
• There is a vast surplus of rental property in my opinion, even though agents keep talking as if there are no problems.
• Fewer people come to London to work because the British economy is not good any more. London’s attraction has fallen.
James Davis, Upad’s CEO, commented: “This is the lowest we’ve seen landlord confidence since the Emergency Budget in June. The responses we’ve had from landlords this month have been unusual because there isn’t one single theme: changes within the benefits system, the economy and finance are all causing landlords concern at the moment.
“It’s unsurprising because even so-called expert commentators can’t agree on which way the economy in general and the housing market in particular is going to turn. Until landlords can see some certainty in their future, we can expect confidence to remain lowered.”
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