According to a new survey by LSL Property Services nearly half of landlords believe that now is a good time to invest in buy-to-let property, compared to 1% who think it’s a good time to reduce their portfolios.
This is due to attractive property prices, low buy-to-let mortgage rates on offer and huge tenant demand. As tenant demand continues to grow, rents hit a record high in July of £725 in England and Wales, and Landlords are expecting a further increase in tenant demand over the next few months.
Landlords’confidence in buy-to-let has been bolstered by strong tenant demand and attractive purchase prices, according to a landlord sentiment survey conducted by LSL Property Services plc. Nearly half of landlords (48%) polled by LSL Property Services believe that now is a good time to invest in property, while less than 1% think it is now a good time to reduce their portfolios. Four-fifths of landlords (82%) think now is a good time to buy rental property cited attractive property prices, while 53% mentioned strong tenant demand.
LSL Property Services director David Brown commented: “House prices are still subdued in many parts of the country and tenant demand is still growing. This is presenting landlords with the opportunity to secure strong yields on properties, and boosting confidence in buy-to-let as a long-term investment.”
If you are looking to invest in a buy-to-let property then why not contact your local branch of Intercounty.