Most UK landlords plan to buy local, latest NLA survey shows

The majority of landlords in the UK considering future property purchases plan to buy in their local area, according to the latest research from the National Landlords Association (NLA).

Three quarters of private residential landlords say their next property purchase will be close to home or in or around the area that they currently live.

The research also shows that just 10% plan to purchase within a 100 miles radius and 9% say they plan to buy further afield.

The news comes as more and more councils across the country are turning to costly and ineffective landlord licensing schemes which could have a detrimental effect on local investment.

‘Local investment in housing is essential if towns and cities across the UK want to attract people and business to the area. The private rented sector (PRS) is growing at a steady rate but we still need further investment in housing if tenant demand across the UK is to be met,’ said Carolyn Uphill, NLA chairman.

‘These findings are positive news and show that landlords can provide a vital lifeline for local councils who struggle with the ever growing demand for housing in their area. It means that councils considering introducing licensing schemes should take these findings on board as otherwise they will alienate a significant proportion of landlords and in doing so deter much needed investment,’ she added.

The NLA has also compiled a list of key considerations for first time landlords looking to a new and successful local property investment, which is part of its Professional Practice for Profit campaign.

It suggests they should find out about local tenant demand and what types of tenants are most attracted to the area as well as local employment conditions.

They should research local market rent levels like and what rental yields can be expected and work out how desirable the property will be in terms of proximity to transport connections, schools and local amenities.

They should also look at the likely capital value potential and whether there are any future development plans in the area and what are local crime levels are like.