The Deposit Protection Service (DPS) has conducted research which found that the majority property investors who intend to buy another investment property are looking to do so during the next two years.
The survey of more than 2,000 landlords revealed that one in 10 respondents are currently intending to expand their portfolio, with 60% of that group saying they may do so within the next two years.
21% of those looking to buy within two years said that they were considering buying in a different area from where they live, with 70% saying that they were specifically looking to buy a terraced house.
Matt Trevett, managing director at the DPS, said: “The survey helps us gain insight into the purchasing intentions of landlords across England and Wales.
“The economic pressures that are affecting most sectors will inevitably also influence the strategies of buy-to-let property owners too, although it’s interesting to note that most landlords who intend to increase their portfolios are considering doing so over the next two years.
“Our regular surveys of both landlords and tenants mean we can share valuable insight with our customers and the wider industry and, combined with largest database of domestic private rental figures across the UK, help us reveal a detailed picture of trends in the private rental sector.”
Paul Fryers, managing director at Zephyr Homeloans, which helped organise the survey and is also part of the Computershare Group, added: “Financial pressures on landlords may mean they look further afield to buy property to suit their own budgets and to find the best rental yields.
“Although our buy-to-let customers invest in properties all over the UK, we have seen particularly high activity recently across East Anglia, the North West, the South East as well as Yorkshire and the Humber.”
