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Nearly three quarters of landlords positive about market outlook

  • 02/01/2024
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Nearly three quarters of landlords positive about market outlook
Almost three quarters of resident buy-to-let landlords are confident about the property market in the next year, a report has said.

According to research from The Mortgage Lender (TML), more than a quarter say they are very confident in the property market next year.

Confidence rises for landlords who own homes of multiple occupancy (HMO) coming to 86 per cent.

Heightened confidence is also seen with landlords specialising in student accommodation at 84 per cent with portfolio landlords feeling confident about the property market coming to 82 per cent.

Around 71 per cent of landlords felt confident over the performance of their rental properties in the next year, and portfolio landlords were the most confident at 78 per cent.


Property market experience breeds confidence 

Experienced landlords who have owned their property for five years or more were also more optimistic about the market, with 73 per cent expressing confidence in their rental property performance in the next year.

Nearly three quarters of landlords said that tenant demand had  grown in the last six months, with 27 per cent saying it had been a significant increase.

Almost 73 per cent of landlords said that they had increased rents in the last year, with the average increase coming to 34 per cent.


Rising costs and local price trends

Over half said this was due to rising costs and a further 28 per cent said they were following the trend in the surrounding area

Chris Kirby (pictured), head of key accounts and specialist distribution at TML, said: “Given the pivotal role that the buy-to-let industry plays in supporting the residential market and ensuring the maintenance of the much-needed supply of homes, it’s encouraging to see these levels of confidence.

“Despite the fact that many landlords are facing higher operating costs, and additional to the inflationary pressures that are impacting everyone, the continued supply of good quality, well maintained rental properties is a must.”

He continued: “For landlords who are looking to expand their existing portfolio, or remortgage their properties, it’s important to seek broker advice to ensure they are accessing the best possible opportunities in the coming year.”

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