Landlords spurred on to buy more property by tenant demand

More than four out of 10 buy-to-let landlords (41%) plan to buy more property in the next 12 months, a survey from Landbay has revealed.

The main reason is the increase in the number of tenants (35%), while a third (33%) said a potential drop in house prices.

The strongest intention came from landlords with 11-20 properties, with more than half (54%) planning to expand their portfolio.

Paul Brett, Landbay’s managing director, intermediaries said: “Once again high tenant demand serves as a key driver for landlords to consider expanding their property portfolio. And while house prices have remained more robust than some landlords previously predicted, high rental yields are clearly still tempting some to explore the sales market.

“Rather than the buy-to-let market languishing and lots of landlords exiting as some commentators have suggested, this data shows landlords are still seizing the opportunities available. We mustn’t forget those that are undecided though, bogged down by the state of the wider market or the anti-landlord environment we find ourselves in.

“For those that are still undecided, it’s important we all rally behind these landlords. We’re playing our part through constant innovation and expanding our product line to help meet a broad range of landlord requirements.”