Landlord confidence reaches new high

Landlord confidence reaches new highPrivate rented sector landlords are feeling more confident than they have at any other time since the credit crunch, according to new research from Paragon Mortgages.

The figures show that business expectations over the next quarter are good or very good for 66 per cent of landlords - the highest percentage since 2007.

Just over one in ten added to their property portfolios in the second quarter of this year, while a fifth said they intend to purchase further buy-to-let properties over the coming 12 months.

It could well be that strong demand for rented accommodation is what's buoying confidence among landlords. As Paragon Mortgages points out, data from the latest English Housing Survey shows that the private rented sector now accounts for 3.6 million households in the country.

This equates to 17 per cent of all households - a similar proportion to social rented housing.

Confidence in the capital may be particularly high, as there is strong demand for flats to rent in London. Indeed, data from LSL Property Services shows that tenant demand pushed up rents in the city by 0.9 per cent in June.

John Heron, managing director of Paragon Mortgages, said: "Out own survey indicates that landlords remain positive about the future of the sector and are looking to expand their portfolios further to meet the growing demand from private renters.

"I am pleased to see that confidence is growing and that it has reached its highest level post-credit crunch."

The research also showed that young couples are the most prolific type of tenant for landlords. This is followed by young singles and families with children.

In the second quarter of 2012 average rental yields stood at 6.2 per cent, while 34 per cent of landlords experienced a void period. This was the lowest number in the last 12 months and comes as yet another sign that things are looking up.

Posted by Chris Price
 

Published 31st July, 2012

© 2012 Estates IT Limited

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