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TODAY'S OTHER NEWS

Property investors remain resilient

A third of property professionals in this country are set to add to their portfolios this year as appetite for opportunistic deals continues, remaining resilient despite a backdrop of increased challenges. 

Some 33% of the 109 property professionals surveyed by bridging finance lender mtf said that they planned to increase their portfolios in 2018, while 50% said they planned no changes.

No-one questioned planned to reduce their exposure to the UK property market, despite 40% of respondents stating that they did not think conditions for landlords and property investors will improve this year.

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When asked what had been the biggest challenge for landlords and property investors last year, 43% cited the 3% stamp duty surcharge for buying an investment property, 21% identified economic uncertainty, new affordability rules was the third biggest challenge at 16%, 15% said accessing funding was the greatest challenge, while just  5% cited the phasing out of mortgage tax relief.

Of the 33% looking to expand their portfolios, 60% are seeking to acquire property in the South East of England, compared to 20% that said they were looking to buy in London, as investors look to diversify their portfolios geographically to broaden outside of the more expensive capital.

Tomer Aboody, director of mtf, said: “While there is continuing uncertainty, particularly over how the Brexit negotiations will unfold, UK property investors remain resilient.

“The fact that property professionals have continued to invest in the UK, despite the uncertainty and numerous challenges, bodes well for the future of the market.” 

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