Confidence amongst landlords reaches five-year high
Confidence amongst landlords in Britain is currently at a five-year-high, according to a recent study.
Two thirds (66 per cent) of landlords answering to questions posed by Paragon Mortgages rated their expectations for Q3 as either 'good' or 'very good'. As confirmed by mortagegintroducer.com, this is the highest level of confidence seen since 2007.
Landlords were also asked to touch on the private renting sector's prospects in Q3, with 57 per cent rating their expectations as 'good' or 'very good'.
Researchers also found that landlords are backing up their predictions with investments. During Q2, 12 per cent of landlords claimed to have added an average 2.6 properties to their growing list of portfolios. Meanwhile, 22 per cent said they would be looking to purchase another property for letting purposes in the next 12 months.
Many landlords therefore might need to invest in property management services to keep track of their assets and ensure that their tenants are completely satisfied.
According to readings cited by 24dash.com, 3.6 million English households are already being rented out without the additional investments. John Heron, managing director of Paragon Mortgages, believes this figure is owed to a "relatively enlightened" approach towards landlord and tenant regulation and buy-to-let finance options.
Reflecting on his company's latest study results, Mr Heron added: "Our own survey indicates that landlords remain positive about the future of the sector and are looking to expand their portfolios further in order to meet the growing demand from private renters.
"I am pleased to see that confidence is growing and that it has reached its highest level post-credit crunch."