More than 40% of buy-to-let landlords are planning on purchasing more property over the next 12 months according to the latest Landbay landlord survey, with the main reason for expanding their portfolio being cited as the increase in the number of tenants searching in the market.
According to the latest landlord survey released by specialist lender Landbay, 41% of landlords are planning on expanding their investment portfolio over the next year, with 35% of investors surveyed stating that the main reason for their increased interest in purchasing additional property is due to the high tenant demand in the current market, and the number of tenants searching for property increasing – up from just 30% in the previous quarter.
The strongest intention for purchasing additional buy-to-let properties came from landlords who owned between 11-20 properties, with more than half (54%) intending to expand their property investment portfolio, while 44% of investors with two or three properties also planned to expand their portfolio in the coming year.
“Once again high tenant demand serves as a key driver for landlords to consider expanding their property portfolio. And while house prices have remained more robust than some landlords previously predicted, high rental yields are clearly still tempting some to explore the sales market.” Paul Brett, Managing Director of Intermediaries at Landbay.‘‘
At Beech Holdings we have experienced an uptake in tenant demand for our rental properties managed by our in-house lettings team, Manchester Apartments, as despite an increase in available stock of 33% this year, our team have already let 73% of our current portfolio – meaning if we had not gained the additional stock for this year, we would currently be 97% let for the year.
With such incredible tenant demand for our properties, we have decided to develop a brand-new residential offering in an undersupplied location with high levels of demand to provide our residents with high-quality apartments that suit their needs.
That’s where City Co-Living MediaCity comes in.
With a range of studio and one-bedroom apartments, providing residents with the single-occupancy units that they are looking for, City Co-Living MediaCity will also feature a long list of on-site facilities and amenity spaces for residents to use as an extension of their own home at their leisure – including a rooftop garden, media room, resident’s lounge, co-workspaces, games room, state-of-the-art gym and fitness studio, and more – all in the heart of Salford Quays.
To learn more about City Co-Living MediaCity and how you can secure your future-proof investment in one of Manchester’s most undersupplied neighbourhoods, get in touch with our team today or call us direct at +44 (0) 161 791 4600.