Recent polling data, taken across the UK, shows that despite the overhaul that the British government has instituted regarding buy to let policies, most landlords across the British Isles are not in any hurry to stop doing what they do. The data showed about a fifth of those polled were determined to stick it out long term. This contention, according to the study, stayed the same across both a younger and a middle-aged demographic. Those with four and more properties were even more inclined to stay in the business. The highest percentage of those determined to keep their landlord chops going were in the Eastern part of London. About a fourth of that demographic was determined to hold the line. This is good news for all the market doomsayers who were predicting a seepage of landlords leaving the industry as regulations amped up. In fact, those landlords with portfolios, according to the data, tend to represent a group that has been invested in the landlord business for more than 10 years, with many clearly intending to make it to 15 and 20.
Key Takeaways:
- Although the UK has undergone some overhauling of tax laws recently, most particularly germane to those in the landlord biz, nearly 20% say that they have no intention of getting out of the business.
- This particularly held true in the Eastern part of England, where nearly a quarter were sticking to the landlord guns.
- Data does suggest that some, a significant minority of about 6%, say that they intend to be in the landlord business for nor more than one or two more years tops.
“The research also found that 20% portfolio landlords have been a landlord for 16 to 20 years, showing that, with enough time to develop experience, monitor the value of properties and even make renovations to their offerings, the buy to let market can prove worthwhile for this group especially.”
Read more: https://www.propertywire.com/news/uk/almost-one-five-landlords-say-business-long-term/
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