Two-thirds of private landlords in the UK are optimistic about how their property investments will perform in the coming years - but political uncertainty is a notable challenge.
New research from Butterfield Mortgages, based on an independent survey among 2,000 UK adults., found that of those who own buy-to-let properties, 65 peer cent are confident their property investments will perform well in the future – both in terms of capital growth and rental returns.
Looking to 2024, 32 per c ent think house prices will rise next year, while 47 per cent believe the Bank of England’s base rate will start to come back down.
The research also highlighted the political challenges facing landlords.
More than three-fifths of those surveyed said they want greater consistency and clarity over government policy that affects landlords. For instance, 45 per cent had made EPC upgrades to their properties since 2021, only for the new energy regulations for buy-to-let properties to be scrapped in September this year.
Reflecting the demand for consistent policy from the government, half of private landlords said they will await the outcome of the next general election before deciding how to manage their property investment portfolio.
The firm’s chief executive - Alpa Bhakta - says: “After a turbulent two years from both an economic and political perspective, it is noteworthy that two-thirds of UK landlords remain optimistic about how their property investment will perform. But our research also shines a light on the challenges they face.
“Clearly, most landlords do not expect house prices to immediately return to growth in 2024, even if the base rate does start to come back down. Moreover, inconsistency in government policy appears to have resulted in a degree of hesitancy among private landlords, with many likely to sit tight and await the election outcome so they can gain greater clarity on what reforms and regulations might be introduced in the next parliament.
“It will be interesting to see how the political parties approach the property market in their election campaigns next year.”
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As soon as you see a headline like this you know it’s a positive spun press release by a vested interest - in this case a company selling mortgages.
Looks like I’m one of the third
With the lose of the mortgage tax relief Private buy to lets with a mortgage are running at a lose.
The results of this is Tenants will have to be evicted and properties sold.
This is not good for me or the tenants.
The current BTL Tax is unfair to the private landlords.
By the end of 2024 50% of the the private Buy to let will be gone, rents will go up due to 20 tenants trying to rent each property that's left.
It's already a rate of 100 enquiries in 3 days per property (at which point openrent pause your advert) so would be even more enquiries if advert not paused...
Love these stories, talk about trying to flog a dead horse. It's like selling suncream in December and claiming we're in for a scorcher - although the Greta's amongst you will probably snap it up...
This, granted an old article, but making us smile this morning, as our last is being valued in a few hours :-D
Simply cannot wait to be finally out after 3 decades, although Agent trying their best with pressing facts of how they have many, MANY good tenants waiting, with rents the higest even from last quarter (well done gormless Mr G0v), yet, we all know this...
Ye ha, just not interested, all thanks to policies, vitriol and vile from likes of so called non profits who consistently vomit untruths.
A crises bourne over decades made so much worse by all the obnoxious gen rent & shelter et al. again, with their constant lies, some blatant, and misinformation, all helping to make a bad situation worse.
Well, thanks to you another good family of 4 are out, no doubts with no help from councils, oh and all aforementioned dross: ALL blame fully at your door(s)...
Happy days, well for some ;-P
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