In fact 86% of landlords polled by LSL Property Services plc are planning to maintain or expand the size of their portfolios over the next twelve months.
Growing demand for rental accommodation is the main reason for the increase in confidence. 185,600 fewer first-time buyers entered the property in the last 12 months compared to the level before the downturn and the vast majority are remaining in the private rental sector instead.
As a result, in the past three months, 52% of landlords have seen a rise in tenant demand and 68% expect demand to grow further in the next twelve months.
David Newnes, estate agency managing director for LSL Property Services plc, owners of Your Move and Reeds Rains said:
“Optimism among landlords is not only buoyant, but increasing. Soaring rents and climbing demand from frustrated first-time buyers are not only making buy-to-let an attractive proposition for new property investors – but are encouraging existing landlords to grow their holdings before property prices increase once more.”
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