28% of landlords polled by LSL Property Services (which owns the UK’s largest lettings agent network, including national chains Your Move and Reeds Rains) intended to expand their portfolio in the next year. Landlords with five or more properties, are more likely increase their involvement in the private rental sector – with four in 10 saying they expected their portfolios to grow, compared to 26% of smaller scale landlords (with fewer than five properties).
48% of landlords believe now is good time to invest in property, remaining consistent with the response of January’s sentiment survey (49%). 2% believe now is a good time to sell their properties. Growing tenant demand has driven increased optimism. 46% of larger scale landlords have witnessed growing tenant demand, compared to 37% of smaller scale investors. Only 7% of all respondents saw a decline, while 64% believe tenant demand will grow in the next 12 months.
David Brown, commercial director of LSL Property Services plc, said: “Optimism is flooding back into the buy-to-let market. Underlying factors like tenant demand continue to improve