According to the latest research from ARLA and the Residential Landlords Association, landlords are in the market to buy up more properties as rental demand continues to grow.
One-third of landlords with properties in central London plan to add more properties to their portfolio there over the next year. The survey of over 1,500 UK landlords illustrated that the regions with the landlords buying the highest number of properties in the last year are the Midlands, Greater London and the North East.
The research shows that landlords in the North also have larger portfolios, with an average of 13 rental properties each. In comparison, landlords in central London and the South East own an average of 6 buy-to-let properties.
While 33% of landlords in central London and 30% in the rest of London said they were planning to increase their portfolio in the next year, 30% of landlords in the Midlands also stated they intended to buy in the coming twelve months.
“Traditionally, London has led the way with buy-to-let, but we are seeing signs that investors elsewhere in the country believe now is the time to buy. If you can arrange finance, it could be prudent to take advantage of lower property prices.” – Ian Potter, ARLA representative