Britain’s buy-to-let market remains robust: Key highlights of the Bank of Ireland UK’s Buy-to-Let Market Index
If you’re thinking about investing in buy-to-let property or are wanting to increase the size of your investment property portfolio but have concerns about ‘bricks and mortar’ investments not being as secure as they once were, you may be pleased to learn about the findings of the recently published Bank of Ireland UK’s Buy-to-Let Market Index.
More than half of the UK’s landlords believe buy-to-let in Britain remains robust, despite the nation’s decision to leave the European Union. Findings from the Bank of Ireland UK’s Buy-to-Let Market Index also revealed that 54% of landlords believe Brexit will make no difference to their property investments for the rental market. Furthermore, one in five landlords surveyed for the study, said they believe Brexit will benefit their buy-to-let business.
The Buy-to-Let Market Index also found that almost half of landlords who own two or more properties are planning to add to their property portfolio for the rental market in the next few years. Just over half of homeowners that participated in the research, admitted, if they had the finances, they would invest in buy-to-let property. 48% of the participators said that due to the rising demand for privately rented homes, they are more likely to purchase a buy-to-let investment. 55% of the landlords surveyed said they are likely to increase the cost of their rents.
Mark Howell, the Bank of Ireland UK Mortgages director of marketing and customer management, spoke of how UK landlords, present and future, still regard buy-to-let as a solid investment.
“Despite a number of events which were expected to have a negative impact on the sector, homeowners and landlords continue to see buy-to-let as a solid long-term investment. It’s really encouraging to see such confidence in the market and I am particularly pleased to see that the mortgage affordability index has risen to record highs,” said Mark Howell.
Howell did warn landlords to be aware of Osborne’s buy-to-let tax changes, stating: “Landlords do, however, need to be aware of the impact that George Osborne’s tax changes will have on the sector and ensure that provisions are made to protect against this.”
If you are thinking about making a buy-to-let purchase in London, the South East and even further afield, property auctions can be a great way for landlords to buy investment property. Auction House London are specialist residential and commercial property auctioneers, servicing London and the rest of the UK. Get in touch with Auction House London today to discuss your buy-to-let property investment queries and requirements.