With the vast majority of landlords stating they are currently optimistic about the year ahead and the future of property investment, newly released data reveals where they should be looking to invest.
The research from Accommodation.co.uk highlights which areas in the UK landlords are most likely to invest in next year and reveals that the North West came out top as the area that will offer the best opportunities – 32% of landlords chose this as their preferred location for property investment in 2021.
The South-East was the second most popular region with 27%, closely followed by the West Midlands with 20% of landlords picking this region. Scotland, Wales and East of England were the areas seen as least attractive for investment in 2021 all accumulating less than 5% of the total votes.
UK landlords were also asked about their concerns about the potential hike in Capital Gains Tax and if this would impact future investments. Over half of landlords stated it will have an impact and they will reduce their property portfolio if the tax increase happens. The sector is waiting to see how the Chancellor reacts to proposals by the Office of Tax Simplification (OTS), to reform the tax due to the impact of the Covid-19 crisis.
However, there was also some positivity from landlords with 81% stating that they were optimistic that 2021 will be a positive year for property investment as the economy recovers, and the sectors begin to return to the new normal. The majority of UK landlords still see property as a buoyant sector and a safe place to invest in the long-term.
Aaron Short, Founder and CEO at Accommodation.co.uk said, “We are always listening to our landlords and tenants to ensure our proposition reflects the needs of the market and this is why the National Landlord Index is so important. The COVID-19 pandemic has had a huge impact on the lettings sector, but it is great to see landlords positive about the future of the sector and this certainly mirrors the growth we have seen at Accommodation.co.uk.
“At Accommodation.co.uk we have been at the forefront of updating this archaic industry and we believe our award-winning model offers tenants and landlords the best solution in the current market.”