Almost 80% of landlords plan to increase their portfolios over the next 12 months, equating to 1.95 million investors, a new survey has revealed.
According to the study by investor forum and advice website The Property Hub, the vast majority of landlords will buy at least one more property in 2019 while a massive 70% say even a no-deal Brexit would be unlikely to affect their growth plans.
Meanwhile, 84% of landlords polled said they had no plans to sell any properties in the next three years, and 66% said even if the government were to announce further tax measures – such as restricting interest relief for companies, they still wouldn’t be selling up.
The figures come amid concerns landlords may be looking to leave the sector following a difficult few years for the sector during which we’ve seen an overhaul of the landlord tax relief system, increased regulation and a Stamp Duty hike.
Rob Dix, co-founder of The Property Hub, says: “There’s been so much talk of a mass exodus of landlords and the death of buy to let, it’s easy for some would-be landlords or, indeed, tenants, to believe the rental market is on its knees. However, it’s clear from our survey that landlords are far from retreating from the market.”