LETTING & ESTATE AGENT

Landlords' Confidence At Six Year High

Landlords' Confidence At Six Year High

Sutton landlords may be interested to know that more than two-thirds of UK buy-to-let landlords expect to do good business in the future as tenants struggle to buy.

Research carried out by BDRC Continental and property consultancy Allsop reveals optimism among landlords has reached its highest level since Q3 2007, with 68% saying they anticipate 'good or very good' business in the next few months.

Of the 1,000 landlords who took part in the survey, 23% said they planned to buy more rental property in the pending months compared to 7% looking to sell up.

The vast majority of landlords said they felt property was still the best way to invest their cash. The research also found that only 27% of tenants have plans to buy their own home despite the launch of the Help to Buy mortgage guarantee scheme, research has found.

The report revealed a split between those currently in the rental sector over future homeownership. While 27% of tenants said they planned to buy a home in the near future, 39% said they wanted to continue renting properties.

The report said this figure could be due to renters still being unable to raise a suitable deposit, even with government-backed Help to Buy products now available.

Paul Winstanley, partner at Allsop, said:

"Increasing property prices combined with strong and, in many regions, rising rents are solidifying landlords' commitment to the private rented sector, encouraging them to expand rather than contract their rental portfolios.

"For tenants this means a commitment to hold their properties for the long term, which, despite tenants' fears on the contrary, is likely to signify greater security and longer tenancies."

Martin and Co letting agents in Sutton would be happy to offer advice on Buy-To-Let or renting property in Sutton, Morden or the surrounding areas.