Almost a quarter of landlords are planning to increase their property portfolios in the next five years, according to research from the National Landlords’ Association.
Research by the NLA shows that 23 per cent of landlords plan to grow their portfolios while nearly 60 per cent expect the number of properties they own to remain unchanged.
NLA chairman David Salusbury says: “The fallout from the so-called credit crunch has dominated public attention, but in times of financial uncertainty people continue to need a roof over their heads.”
Salusbury warns that buy-to-let investors need to approach the sector with caution. He says: “Residential property investment is not a means to getting rich quick. It is unclear whether house prices will rise or fall over the next 12 months and those who are buying a property to let as someone’s home need to have a medium or long-term perspective.
“Demand for the right property in the right location remains sound but there is an oversupply of newbuild flats in some areas, which may make them difficult to let or sell.”