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Landlords planning to buy more homes

Tuesday, 29 November 2011 12:26 PM

More than one in five landlords are looking to expand their property portfolios over the next 12 months.

A survey by Paragon Mortgages, the buy-to-let lender, and BDRC Continental shows that 22 per cent of landlords are planning to purchase additional properties over the next year and just eight per cent are planning to reduce their stock. Each landlord had 13 properties in the third quarter, up from 12 in the second quarter.

The most popular property type for landlords was terraced houses, with 65 per cent owning at least one. That was followed by flats (58 per cent), semi-detached houses (48 per cent) and houses in multiple occupancy (24 per cent).

Meanwhile 57 per cent of landlords rate the prospects for the private rented sector over the next 12 months as good or very good.

John Heron, Paragon Mortgages managing director, said: "Landlords are experiencing very high levels of tenant demand as other areas of the housing market come under increasing strain.

"I am pleased to see that landlords are expecting to add to their portfolios as there is no sign that tenant demand is going to slow in 2012 and to ensure the PRS can withstand further demand, there needs to be increasing investment."

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