In fact, in a study undertaken by The Property Hub, it appears many landlords are optimistic about the year that lies ahead. It was found that 77% of landlords are looking to buy more property next year. This will lead to an increase in the supply of rental homes, which is great news for tenants and prospective tenants. This finding is also positive news for vendors because it suggests that there will be buyers looking to purchase a property.
Landlords wants to remain in the market
Of course, the fact that so many landlords are looking to purchase property and expand their portfolio suggests that there is a level of optimism about how the rental market will perform next year. Even though there are many measures being introduced to assist people buy property, a lot of people will continue to be priced out of the property market. There is also the fact that many people prefer to rent.
With respect to landlords looking to sell property in 2019, only 2.9% of respondents said they were looking to sell their home. This is hugely positive because it indicates that most landlords are looking to remain in the sector.
Landlords are not looking to sell
There have been some reports over the year that landlords were looking to exit the market. However, there has been a change in policy from many lenders, and existing landlords are gaining access to more favourable rates. This may be driven by a hesitancy of new landlords to join the market but for whatever reason, there has been a change in policy with respect to buy to let mortgages for existing landlords, and it is having a notable impact on landlord’s perceptions of the market.
Looking further ahead, 84% of landlords said that they have no intention of selling property within the next three years. This provides even more stability in the market and is another indicator that landlords believe that the market is in a healthy place for them.
There is no doubt that Brexit will impact on many parts of life, but 70% of respondents said that not even a No Deal Brexit would change their activity in the property market. It is easy to say one thing in a survey and make a different decision when faced with a harsh reality, but there is optimism to be found in these findings.
If you are a local landlord or you are keen to become a landlord in the Streatham or Norbury area, we can help. At Oaks Estate Agents, we provide a high level of support and service for landlords, and we care about the local area and community. If you are determined to be optimistic about 2019, get in touch and we will do our very best to support you.