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15% of landlords plan to buy more property

by: Mortgage Solutions
  • 06/02/2013
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15% of landlords plan to buy more property
Three quarters of landlords are optimistic about the Private Rented Sector (PRS) and 15% plan to expand their portfolios this year.

According to research from specialist buy-to-let lender Paragon Mortgages, 41% of lendlords think tenants demand will increase in 2013 and just 6% believe it will fall.

Of the 15% of landlords planning to buy more buy-to-let property this year, 47% will look to purchase terraced houses, flats and maisonettes; 30% semi-detached and 20% multi-unit blocks.

Houses in Multiple Occupation (HMOs) and detached houses are furthest down the shopping list at 13% and 10% respectively.

The landlords surveyed own an average of 12.7 buy-to-let properties, set to rise to 13.2 properties by the end of 2013.

According to the research, 64% plan to carry out improvements to some or all of their properties, with 30% looking to install a new kitchen or bathroom and 26% planning to fit a new boiler.

John Heron, managing director of Paragon Mortgages, said: “2012 was a good, steady year for landlords. They continued to invest in their property portfolios, albeit at a slower pace than needed for the PRS to cope with increasing levels of tenant demand.

 

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