Buy-to-let landlords in central London were the most likely to have reduced rents in England in the past 12 months, fresh research from Paragon shows.
The survey of 1,043 landlords carried out by BDRC on behalf of Paragon found that fewer landlords in central London reported tenant demand to be stable or increasing than in any other region, while more than a quarter were likely to have reduced rent in the last 12 months.
The study found that landlord confidence overall had remained confident or increased in the first quarter of 2018 compared with the corresponding period last year.
Landlords in the east of England were most positive about the future, with over half - 53% - of those surveyed indicating that they felt upbeat about the prospects for their own lettings business over the next three months.
By contrast, landlords in central London were the least optimistic, with just 26% rating prospects for their own business as good or very good over the next three months.
John Heron, managing director of mortgages at Paragon, commented: “After an unprecedented level of change, it’s encouraging to see landlord confidence stabilising this quarter.
“At a regional level, the East of England and the Midlands look well supported, with encouraging data on tenant demand, yield and capital gains while the London market adjusts its footing after many years of strong growth.”