The survey of 3,617 landlords carried out by GFK NOP showed confidence in the market is higher than at the same time last year. The survey on behalf of Mortgage Express found 95% of landlords plan to either increase or maintain the number of buy-to-let properties they own. This is 9% more than at the end of 2005 when the figure was 86%. Over half (55%) plan to buy another property. Only 3% plan to decrease their investment in bricks and mortar.
Gus Park, head of buy-to-let mortgages for Mortgage Express, said: “The latest confidence survey shows that the story of buy-to-let is still one of growth, with confident and increasingly experienced landlords looking ahead to another good year.
“Most landlords are investing for the long-term with 34% saying they want capital growth and 38% investing to provide for their pension. More than half (53%) have been investing in bricks and mortar for five years, or more.”
Responses to the survey showed price as the key factor in investment, followed by condition of the property and the area the property is in.
30% of respondents own between three to five properties. A total of 69% have five or under, and people of all ages are benefiting from buy-to-let with an almost equal number of people stating they are over 45-years-old (48%) as under 45-years-old (50%).
Only 8% per cent of the landlords surveyed are full-time professional landlords. The rest are: employed (49%), self-employed (31%) or retired (7%). Of those employed, just over a quarter (26%) describe themselves as working in higher managerial or professional jobs and 18% reported that they are in either clerical or administrative jobs, or are manual workers.
The landlords’ confidence is supported by tenant demand. 70% had experienced no unplanned void periods at all during the six months preceding the survey, and of those who did experience an unplanned void the majority reported that it was for less than four weeks.
