Almost a quarter of buy-to-let landlords are planning to purchase at least one further property over the next 12 months.
According to a study by agents Allsop and market research firm BDRC Continental, 23% of landlords plan to grow their portfolios over the next year, and 61% are confident about the future for their businesses.
The survey found that the average tenant’s stay is now over two-and-a-half years.
Four in ten landlords have agreed higher rents with their tenants during the last year, compared with 7% of landlords who have had to lower their rents.
The survey also found that an average two-bed flat in central London now earns a landlord rent of £1,515 each month, over three times the £480 for the same property type in the North-East.
Paul Winstanley, partner at Allsop, said: “The demand for rented housing and the constraints on the wider housing market mean that rented housing is likely to retain the same income dynamics for the medium to long term. The rented sector is growing at such a rate that landlords will share in a secure and attractive return.”
Article courtesy of Landlord Today