Only one in 10 landlords look likely to expand their portfolios according to a new survey – although if they go ahead, they will do so within the next two years. 

A survey by The Deposit Protection Service of more than 2,000 landlords revealed that one in ten respondents are currently intending to expand their portfolio, with 60 per cent of that group saying they may do so within the next two years.

Some 21 per cent of those looking to buy within two years said that they were considering buying in a different area from where they live, with 70 per cent saying that they were specifically looking to buy a terraced house.

DPS managing director Matt Trevettsays: “The survey helps us gain insight into the purchasing intentions of landlords across England and Wales.

“The economic pressures that are affecting most sectors will inevitably also influence the strategies of buy-to-let property owners too, although it’s interesting to note that most landlords who intend to increase their portfolios are considering doing so over the next two years.

“Our regular surveys of both landlords and tenants mean we can share valuable insight with our customers and the wider industry and, combined with largest database of domestic private rental figures across the UK, help us reveal a detailed picture of trends in the private rental sector.”

The DPS conducted the survey to coincide with the launch of its new, interactive online Annual Rent Index report, which details rental figures and trends across England and Wales during 2022.

The report shows that Yorkshire and Humberside had the most affordable rents last year.

Average monthly rents in the region were £614 by the end of the year (a £32 or 5.5 per cent increase from £582 in 2021), which represented 24.7 per cent of the average £2,460.08 monthly regional salary.

By contrast, average rent in the South East had reached £1,014 by the end of 2022: a £53 or 5.52 per cent increase from £961 in 2021.

This represented 35.61 per cent of the average regional monthly wage (£2,869.25), making the South East the least affordable region to rent outside London.