8 Jan

Half of PRS landlords to expand their portfolios in 2013

Half of PRS landlords to expand their portfolios in 2013

More than half of UK landlords in the private rental sector are going to be looking to expand their portfolios by purchasing more buy-to-let properties throughout 2013, it has been revealed.

According to Mortgages for Business' survey, 55 per cent of those operating in this market will be looking to purchase extra houses over the rest of the year.

It said that this appetite for more homes was based on the fact that they can achieve high returns on their spend at the moment.

Over the past year, the price of rents has gone up and up, and the last reported figure from LSL Property Services found that landlords were looking for £744 per month on average.

David Whittaker, managing director at Mortgages for Business: "Tenant demand for residential property is ballooning thanks to the lack of mortgages available to first time buyers. Every month more and more would be buyers are being forced to rent, and this is pushing up demand to astronomical levels, producing very attractive gross yields for landlords as a result."ADNFCR-1222-ID-801518565-ADNFCR

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