Simply Business: One in 10 landlords to purchase BTL property
One in 10 landlords intend to purchase buy-to-let properties, up from 3% at the end of 2019, according to research from Simply Business.
The data shows that at the end of 2019, 82% of landlords said they had no plans to purchase another property in 2020.
Meanwhile, just 5% noted that they had no intention to sell any existing properties.
As a result of the lockdown, an increasing number of tenants are moving away from London and the South East to less built up areas.
Research from Hamptons Estate Agents shows that once lockdown restrictions were eased, 34% of tenants who moved chose a property with at least one spare room.
Moreover, a quarter of rental moves between May and August were from a flat to a house, up from 16% at the start of the year.
According to Mistoria Group, it has noted a 36% annual rise in landlords looking to purchase BTL property in the North West.
Mish Liyanage, managing director of the Mistoria Group, said: “We are seeing a rise in professional landlords looking to acquire affordable terraced properties with gardens and apartments in the North West.
“Lower prices, high yields, expanding population and Northern Power house initiative/HS2 have contributed to this interest.
“A significant proportion of the professional landlords that we work with are located in the Midlands and the South, but want to invest in the North West, because of the attractive property prices, high yields and occupancy rates.
“Many investors are moving away from London and the South East and are searching for regions that give them exceptional returns.”