Landlords across the UK have increased the size of their rental portfolios in the third quarter of this year, according to industry sources, reporting an average rental property portfolio size of 14.7 properties, an increase from 13.3 properties in Q2.
In the next 12 months, landlords expect to have an average of 14.8 properties in their portfolios.
During the quarter, landlords also continued to report improvement in the availability of buy-to-let finance, with 37% of landlords saying finance is now reasonably available. Only 25% reported finance to be reasonably available a year ago.
An overwhelming majority of landlords were positive about demand levels, with 91% describing tenant demand as stable or growing. Given this favourable backdrop, the void period tightened slightly to 2.9 weeks from 3.0 weeks in Q2 and the average rental yield was unchanged at 6.4%.
Dave McKnight of Martin & Co Derby said: “The third quarter survey paints an encouraging picture of growth in the private rented sector, suggesting landlords should increasingly have the confidence to invest because of improved access to finance”.
Demand for private rented accommodation in Derby remains high and lenders are clearly improving their buy-to-let finance propositions in a bid to increase lending volumes. This is helping landlords expand their portfolios and improving the availability of rental property in Derby, although the demand levels are still exerting pressure upon availability and Martin & Co Derby are actively encouraging and assisting landlords in their search for additional properties. The addition of a Property Sales service, whereby new instructions are circulated immediately to all Martin & Co Derby Landlords, will ensure fast access to available properties to buy and Dave and his team are able to offer information and advice to any landlord looking to grow their portfolio in the region.