photo credit: stevecadman
Buy to let property investment is still “alive and kicking” in the UK despite a squeeze on the lending market, a consultancy firm has said.
Recent financial upheaval has hit the likes of property loan specialists Bradford and Bingley, prompting fears landlords could fall on hard times.
But a survey by Young Group suggests most owners expect to hold onto their portfolios, with some even expecting to buy more.
Most buyers appear to be looking to the medium to long term, instead of focusing on the current UK banking crisis, the firm said.
Young Group chief executive Neil Young said:
“The positive shift in sentiment is by no means dramatic, but does demonstrate that investor sentiment has held steady and not slipped despite the current economic upheaval.”
The company’s survey shows 98 per cent of investors intend to hold their residential property portfolios for the next 12 months.
A total of 34 per cent intend to hold their assets for at least 10 years, and 32 per cent said they intend to buy additional residential property in London within the next 12 months, with other locations less popular.
The statistics also show property investment professionals are unconvinced by recent government efforts to help the ailing property market.
Young Group said 82 per cent of respondents said schemes like a stamp duty holiday will have little or no impact.
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