Some 74 per cent of buy to let landlords are optimistic about the property market in the next 12 months, it’s been claimed.
And this is despite tax, red tape and legal challenges galore being thrown at the private rental sector.
A study by The Mortgage Lender reveals of the optimistic landlords some 27 per cent are actually expressing very high confidence.
Confidence peaks among landlords owning HMOs at 86 per cent, student accommodation at 84 per cent, and those with more than five properties at 82 per cent.
Some 71 per cent of landlords feel positive in regard to their own property in 2024, especially portfolio landlords with five or more properties who are most confident at 78 per cent. Longstanding landlords with over five years of experience show more confidence - 73 per cent - than their less experienced peers on 69 per cent.
Some 73 per cent of landlords observing an increase over the past six months, and 27 per cent noting a significant rise. Again, 73 per cent of landlords boosted rents in the last year by an average 34 per cent.
Chris Kirby, head of key accounts & specialist distribution at The Mortgage Lender, says: “Given the pivotal role that the BTL industry plays in supporting the residential market and ensuring the maintenance of the much-needed supply of homes, it’s encouraging to see these levels of confidence.
“Despite the fact that many landlords are facing higher operating costs, and additional to the inflationary pressures that are impacting everyone, the continued supply of good quality, well maintained rental properties is a must.”
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How many landlords were surveyed?
How were the questions worded?
While I am less negative than some I'm certainly not "expressing very high confidence."
There are too many unknowns in 2024. The RRB, sky high levels of taxation and a general election.
Jo, A mortgage lender is most unlikely to produce or publish a survey suggesting nobody wants to buy their product. Since I had, at most, four properties I would not have been included as a portfolio landlord, not that I was surveyed by them anyway. 😀
Surely 74% of landlords are still not living in Cloud Cuckoo land.
74% 😂😂 lies 🤥🤥. If we are so optimistic, why are we selling up like it’s the End of Days 😱😱🥵🥵
Well folks, it looks like after my two years of drama with a house and a flat which have cost me the best part of 35k the last little toe rag has decided to leave. Not counting my chickens just yet but upshot is all my profit wiped for three years.
So please excuse me if I feel this report is a crock of ..... Rents going up to clear the costs on the other nine properties and these last two will be on guaranteed rent with the agent including annual rises. I may put the flat with Air BnB to see how it goes?!?!
Self serving delusionist reporting with less structure than the average jelly fish. Another industry feeling the collateral damage from the slaughter of BTL and trying mask the akward truth.
Morning everyone
So this morning Landlord today published an article entitled “Activist group makes formal public apology to landlords' chief” Apparently they accused Beadles about of “ campaigning against the abolition of Section 21”. They then issued an apology
Saying NRLA “not campaigning against the abolition of Section 21”. Comments have been disabled on article presumably to stop slew of anti NRLA/Beadle
Remarks. Guess Landlord today are unhappy with the anti NRLA sentiments being expressed?
Yes, Catherine, welcome to the world of censorship ruled by Kim Jon Norwood. A pity Beadle is not made aware of how landlords feel. I will not be renewing my NRLA membership in 2024.
Annoyed Landlord - I personally emailed Beadle and told him Landlords feel he does not represent us and are horrified re his approach on S21 - he just disagreed - he is clearly just out for himself and Norwood is preventing us from commenting!
Indeed, Catherine. Unfortunately I would have hoped that more people would have commented and thus persuaded Kim Jon Norwood to change his mind on this. Sadly that was not the case.
As for Beadle - he has sorted his student lets so, in the words of the famous actor, his reply was along the lines of, "Frankly, my dear, I couldn't give a damn." Wait till the non-renewals hit the NRLA income in 2024.
Of course, mortgage lenders will be massively upbeat about how they portray landlords profits in 2024. If mortgage lenders have no landlords they make no profit!
If the sentiment of landlords is truthfully required, then it is landlords that should be asked about how they feel about their future -and it will be starkly different to the mortgage lenders statistics portrayed in this article. After all, one doesn't survey plumbers on how optimistic carpenters will be in 2024.
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