25% of landlords to expand their portfolios
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by Kay Mitchell
According to data from the National Landlords Association (NLA), 23.4% of landlords plan to increase the number of properties in their portfolio over the next 5 years.
Only a few of landlords questioned said they planned to reduce their property portfolio, with only 18% saying they intended to sell.
David Salusbury of the NLA, said that the rental market would continue to be strong as more people see the benefits of renting over buying. Renting can provide greater flexibility for many and can be more cost effective than buying he added.
Furthermore, according to a report by BM Solutions, Britain is leading the way in the property market in comparison to Europe.
Landlords in the UK are top of the table in relation to buying property for redevelopment but Germany, Poland and Portugal have a booming private rental sector which is being fuelled by the diverse economies and lifestyles across the EU.
In addition, UK landlords also boast the biggest portfolios with an average of 5 properties, compared to Germany, Poland and Portugal who have 2.5, 2.6 and 1.9 respectively
The report also discovered that British landlords are the most passionate about property with 17% saying it is their full-time occupation compared to just 2% of Portuguese landlords.
However, of those German and Polish landlords questioned, very few felt that it was their main source of income.
Finally Moneygate, the financial services organisation, said there is a growing amount of people seeking rented accommodation after mortgage lenders are becoming much stricter on who they will lend to. Consequently, an increase has been noted in potential buyers having their mortgage applications denied and landlords are reaping the benefits by renting their properties to these people.
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