According to a survey of almost 4,000 residential landlords by Martin and Co, the same proportion of private landlords are seeking to grow their investment in rental properties as before the summer Budget.
In July, Chancellor George Osborne announced mortgage interest payments for buy-to-let landlords would be restricted to the basic rate of 20% by April 2020, prompting comments that some landlords would limit any future investment as a result.
Martin and Co’s findings showed that buy-to-let sales and rental applications increased notably in the 28 days after the election, compared to the same period before, with sale applicant registrations rising by 3.8% and tenant registrations by 4.1%.
The Southern Home Counties saw the biggest increase in potential buyers, surging by 40% since before the election. Tenant registrations saw the biggest uplift of 16% in Scotland and 15% in the North West of England and North Wales.
Scotland was noted as being a particularly strong performer in the private rental sector, with the highest growth in individuals choosing to rent in the region, the lowest average rental price and highest gross yield.
The North West and North Wales were found to offer the highest yields of 6.2% in England and Wales and a 119% increase in the size of its rental sector.
The survey also found that private landlords are now building multi-property portfolios and spreading their risk across wider geographic areas.
A third of multi-property owners said they had acquired at least one property that is situated more than 100 miles away from their home.
