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Landlords positive on tenant demand

Landlords are confident that tenant demand is stable or rising, according to Paragon Mortgages&#39 landlord survey.

Fifty-five per cent of landlords say tenant demand is steady while 26 per cent report a growth in demand.

The average landlord in the quarterly survey owns 11.3 residential properties worth £789,000 and is hoping this will rise to 12 properties worth £829,000 over the next 12 months. The average portfolio is up by 4.1 per cent since the last quarter.

Landlords say the gross rental return on their portfolios is 7.3 per cent.

The survey claims that landlords are cautious investors, with two-thirds having borrowings less than half the value of their portfolios while only 4 per cent have borrowed more than 75 per cent and none more than 90 per cent.

Paragon managing director John Heron says: “Tenant demand is key to investors&#39 decisions on buying properties. They approach buy-to-let as a serious long-term business and, so long as they identify good levels of demand, they will generally continue to increase their portfolios.”

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