While most people would agree that it is better to be optimistic than pessimistic in life, the movements of the property market would test anyone’s sunny outlook. There has been a lot of negativity in the media, and in the industry, so it is always pleasing to see reports of optimism and belief in the year or years that lie ahead. In this regard, a recent survey undertaken by The Property Hub with landlords is worth considering.
The most important result of the study was that 77% of landlords stated their intention to purchase property in 2019. This is good news for many people. Prospective tenants will take comfort from the fact that existing landlords appear keen to expand their portfolio, as this will provide a greater supply of homes to the rental market. Vendors will also be pleased with this news because it indicates that there will be more buyers looking for homes in 2019.
If you are keen to sell, it ultimately doesn’t matter if you sell to a first-time buyer, to an existing property owner or to a landlord looking to expand their portfolio. The important aspect is that you can sell your home and have more potential buyers is positive news.
It was also found that just 2.9% of landlords said they were looking to sell their property. Prospective buyers may not be too impressed with this finding as it limits the lack of supply of homes to the market but again for tenants, it will hopefully develop confidence in the rental market for next year. There have been a few reports that landlords were looking to exit the lettings market, which could have a detrimental impact on tenants, so anything which suggests that landlords are here for the long haul will be a relief.
Further confirmation for the fact that landlords look to be committed to the property market comes with the finding that 84% of respondents said they hold no intention of selling a property at any point over the next three years.
One of the co-founders of The Property Hub, Rob Dix, released a statement on the back of the survey’s findings, saying; “There’s been so much talk of a mass exodus of landlords and the death of buy-to-let, it’s easy for some would-be landlords to believe the rental market is on its knees. However, it’s clear from our survey that landlords are far from retreating from the market.”
The rental market is hugely important for many people across the country. While there are people and families who rent because they cannot afford to step on to the property ladder, there is a growing number of people actively deciding to rent as opposed to buy property. There is a sense of freedom that many people appreciate with renting, so news that landlords remain committed to the market should be considered as a positive outcome.
If you have an interest in the rental market, either as a landlord or tenant and you need guidance or help, contact Hansons Estates. We aim to provide you with support at all steps of the letting process, so get in touch.