08/11/2010 - Landlord confidence soaring: Study
A continued rise in the demand for rented accommodation has led to almost a third of landlords trying to increase their property portfolio, a new study has claimed.
Research by LSL Property Services found that 28% of buy-to-let investors are hoping to purchase more property in the next year, while just under half (43%) plan to keep the size of their portfolios at current levels.
Half of all landlords quizzed reported a rise in the number of people who wanted to rent a property during the three months to the end of October, and 69% said they expect demand to keep growing in the next 12 months.
Rents reached a record high average of £689 a month in September as a result of a shortage of rental homes and increased demand, the study reported, offsetting the cost of landlord insurance.
Only 1% of landlords questioned said they thought it was a good time to cut down the number of properties they had while just under half felt confident about making further investments.
Copyright © Press Association 2010.
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