Landlords are poised to buy up more properties as rental demand continues to swell, according to joint research from ARLA and the Residential Landlords Association.
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 UK landlords, the regions with the highest number of landlords buying property in the last 12 months were the North-East, the Midlands and Greater London.
Ian Potter, operations manager at ARLA, said: “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.”
While 33% of landlords in central London and 30% in the rest of London were likely to buy more properties to let 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 showed that landlords in the North also 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.
Potter said: “While it is a positive sign that landlords are continuing to purchase rental properties, this individual activity needs to be boosted by larger-scale investment. With demand still far outstripping supply, and home ownership out of reach for many, it is critical that more people have access to a home of their choice.”
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