One in four landlords planning to grow portfolios

Almost a quarter of buy-to-let landlords are planning to purchase at least one further property over the next 12 months.

According to a study by market research firm BDRC Continental, 23% of landlords plan to grow their portfolios over the next year, and 61% are confident about the future for their businesses.

The survey found that the average tenant’s stay is now over two-and-a-half years.

Four in ten landlords have agreed higher rents with their tenants during the last year, compared with 7% of landlords who have had to lower their rents.

The survey also found that an average two-bed flat in central London now earns a landlord rent of £1,515 each month, over three times the £480 for the same property type in the North-East.

Peter Lawrence at Lawrence Rand said: “Whilst the constraints on the wider housing market are easing, the rental market remains strong and rented housing is likely to retain the same income dynamics for the medium to long term. The rented sector is still growing and landlords will share in a secure and attractive return.”