A BUYING SPREE FOR LANDLORDS?
Tuesday, August 30th, 2011Landlords are set to go on a buying spree as rental demand continues to swell and house prices edge downwards, according to joint research from the Residential Landlords Association and the Association of Residential Letting Agents.
Landlords most likely to expand their portfolios are in central London, where one-third plan to add more properties over the next year.
According to a survey of 1,519 landlords, the regions with the highest number of landlords who have already bought property in the last 12 months are the North-East, the Midlands and Greater London.
While 33% of landlords in central London and 30% in the rest of London are likely to buy more properties in the next 12 months, 30% of landlords in the Midlands also said they would be likely to buy in the next year.
The research revealed that landlords in the North have bigger property portfolios, with an average 13 properties per landlord. In comparison, landlords in central London and the South-East own an average six rental properties each.
