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Growth In Confidence Amongst Landlords?

May 3rd 2021
By: Intercounty
Growth In Confidence Amongst Landlords?

We all know this has been a challenging, and it is fair to say landlords have faced many new challenges on top of the existing difficulties associated with the industry.

However, right now, there is considerable demand for rental property, and there are reasons why landlords are growing in confidence.

At Intercounty, we work closely with many landlords in and around Great Dunmow. This ensures we know what the local mood is like, and it is fair to say there is a growing sense of optimism amongst some local landlords. There is still caution about how the industry moves forward, but compared to the mood of last year, there is a belief we can continue to move forward.

We also stay in touch with the latest studies. By keeping up to date with reviews, studies and news, we are ideally placed to help you make informed decisions about what you do next in the rental market.

What are other landlords saying about the market?

A property investment consultancy, Knight Knox, spoke to 500 landlords in the UK, and 27% of respondents said they plan to expand their property portfolio in the year which lies ahead. Of the landlords who are keen to expand their portfolio, 35% of respondents say the stamp duty holiday has shaped their decision.

Andy Phillips, Knight Knox’s commercial director, said: “The last 12 months have been a total rollercoaster for the housing market. Lockdown 1.0 temporarily halted activity before Rishi Sunak’s announcement of the stamp duty holiday led to the industry facing one of the busiest periods for a decade. For landlords, the incentive has provided a welcome opportunity to purchase more properties while making significant savings. Appetite for rental property is high – particularly given that the financial impact of the pandemic could be affecting people’s plans to purchase – so buy-to-let is a fantastic investment in the current climate.”

How do you feel about the current rental market?

Other findings from the study include:

  • On average, landlords in the UK earn more than £20,000 net income per year from renting out property

  • 88% of landlord feel “confident” or “very confident” about how the buy-to-let market will perform in the next 12 months

  • Two-thirds of landlords claim the pandemic hasn’t impacted their tenancies

  • Only 4% of landlords were looking to reduce their portfolio in the next year

Andy concludes: “The property market plays a crucial role in the country’s economy, so it’s encouraging to see that during times of crisis, the government has been forthcoming with lifelines to help keep the wheels of industry turning. As long as developers can continue to bring high-quality property to market and landlords have the confidence to invest, the sector will remain buoyant and consumer demand for rental housing can be fulfilled.”
 

For all rental market enquiries in Great Dunmow, please feel free to call us on 01371 874005 or why not email us at dunmowlettings@intercounty.co.uk. With considerable experience in the local housing market, and free valuation services, we look forward to helping you make an informed decision when you move in or around Great Dunmow.