A survey from Landbay showed portfolio landlords had the strongest intention to buy, with 54 per cent of those with 11 to 20 properties assessing their next acquisitions.
Around 40 per cent of landlords with 20 properties or more were planning to expand their portfolio, and 44 per cent of those with two or three properties had the same intention.
The survey also revealed that 35 per cent of respondents who were considering buying pointed to the increase in the number of tenants. This is an increase from 30 per cent in Q4 last year.
A third said that the potential drop in house prices was a factor in their decision, which is down from 54 per cent in Q4 last year.
Paul Brett, Landbay’s managing director, intermediaries said: “Once again high tenant demand serves as a key driver for landlords to consider expanding their property portfolio. And while house prices have remained more robust than some landlords previously predicted, high rental yields are clearly still tempting some to explore the sales market.
“Rather than the buy-to-let market languishing and lots of landlords exiting as some commentators have suggested, this data shows landlords are still seizing the opportunities available. We mustn’t forget those that are undecided though, bogged down by the state of the wider market or the anti-landlord environment we find ourselves in.”
He added: “For those that are still undecided, it’s important we all rally behind these landlords. We’re playing our part through constant innovation and expanding our product line to help meet a broad range of landlord requirements.”
