More than half of UK landlords are optimistic about outlook for buy to let market
A new survey has found that over half of landlords in the UK feel optimistic about the buy to let sector despite a raft of regulatory and tax changes introduced in recent years.
It was thought that the decision to slowly phase out tax relief on mortgage interest over the next four years, along with a new Stamp Duty Land Tax (SDLT) surcharge for landlord buyers would have had a negative effect on the market.
However, the results showed that 52 per cent of landlords still feel positive about the market, whilst only 16 per cent feel negative. Meanwhile an additional 32 per cent feel indifferent about being a landlord in the current economic and political climate.
The survey also reveals that the two most important considerations for landlords are ongoing maintenances and upkeep costs, cited by 83 per cent, while 80 per cent mentioned the potential to make a long-term profit.
Only 32 per cent of people rated Brexit as a major concern for the future, the least important factor. This was followed by the upcoming tenant fee ban in England and Wales feared by 43 per cent of respondents,
Overall, the research found that most landlords are deciding to hold out in the face of change and think about the long-term when it comes to their investment, as 64 per cent said they are unlikely to sell a property in the next year.
In light of regulatory and tax changes made in the buy to let market over the past few years, it is not surprising that landlords feel some fear about the future. However, the survey results show that, for the most part, there is optimism in the sector.