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Over half of buy to let investors in the UK feel positive about the market despite an influx of regulatory changes.
New research from estate and letting agents Your Move found that just 16 per cent of landlords felt negative about the buy to let sector. This is in stark comparison to the 52 per cent who felt positive about the private rental sector.
The Landlord Sentiment Survey gathered opinions from nearly 1,100 landlords in June. They discovered that the key concern from buy to let investors was the ongoing maintenance and upkeep costs of managing a rental property. 83 per cent said that this was an important consideration from them.
Meanwhile 80 per cent of landlords said that the potential for a long term profit was an essential consideration for their buy to let properties. In contrast, the tenant fee ban represented a far lower cause for concern, labelled an issue for just 43 per cent of landlords. Brexit was a key consideration for 32 per cent of buy to let investors who were surveyed.
The overall optimism cited in the survey suggests that landlords largely felt confident in the buy to let sector, despite a swathe of regulatory changes. This is in addition to the newly altered wear and tear allowance, additional Stamp Duty surcharge and increasingly strict portfolio lending criteria.
According to the survey, 30 per cent were indifferent about being a landlord in the current economic and political climate. However, a majority of landlords were considering their investments to be long term ventures. Nearly two-thirds of those surveyed revealed that they were unlikely to sell the property in the next year.
National lettings director at Your Move and Reeds Rains, Martyn Alderton, said: ‘Given the number of regulatory and tax changes in the buy to let market over the last few years, it wouldn’t be surprising if landlord felt some trepidation about the future. However, it’s great to see that the landlords we survey do, for the most part, remain positive about the future. Our research shows landlords are in it for the long term and that’s important for the well-being of the Private Rental Sector, providing much needed homes for those who cannot yet afford, or do not wish to purchase due to lifestyle choices.’