UK landlords are still expecting to maintain their portfolios of investment property in the face of current financial upheaval, a leading industry group says.
The Association of Residential Lettings Agents (ARLA) says more than 75 per cent of owners in the private rented sector expect to hold on to current assets for more than 16 years on average.
Falling house prices are not prompting landlords to sell their properties, according to ARLA, with many actually expecting to buy more homes.
The group’s head of operations, Ian Potter, said:
“These figures show property investors are still intending to make use of the availability of buy to let mortgages.
“The average investor is cautious, mature and aims to support the private rented sector for the long-term by looking for the right property in the right market.”
ARLA compiled the new figures after questioning landlords and agents for the organisation’s latest Review and Index.
The survey showed letting agents are reporting an increase in rented property on the market due to the UK housing slowdown.
Migrants from the newer EU countries are continuing to make an impact on the rental market, ARLA added.
The latest Review and Index was put together by polling 453 letting offices and 494 investment landlords during August and September.