Even with the UK undergoing a wide array of regulatory and tax changes, a large percentage of cross-country landlords remain positive about their choice of profession and the future of buy to let. Polling reveals that even in the current economic and political state of the UK more than 50% of the country’s landlords remain sanguine and optimistic and less than 20% have a defeatist outlook, leaving about 30% as neutral or indifferent about the prospects of landlord work in the present and ensuing years. Interestingly, Brexit was not a big concern, with only a tick over 30% considering it as worth noting. Much larger areas of concern were the costs of maintaining property and the pitfalls and probability of actually making a profit in the long-term. Both of these areas were rated at 80%+ as concern-worthy by polled landlords. Moreover, the looming specter of the upcoming tenant fee ban did arouse some passion, as about 40% of the polled landlords felt it was worth noting. Overall, however, it would appear that UK landlords are set to stay the course, with more than 60% saying the are unlikely to sell within the next year.
Key Takeaways:
- The amount of people who want to get into real estate for passive income is rising.
- Rents, and property values, in the United Kingdom are continuing to rise as time goes on.
- People must take the necessary steps to prepare their finances before renting a home.
“?Given the number of regulatory and tax changes in the buy to let market over the last few years, it wouldn?t be surprising if landlords felt some trepidation about the future. However, it?s great to see that the landlords we surveyed do, for the most part, remain positive about the future,? said Martyn Alderton, national lettings director at Your Move and Reeds Rains.”
Read more: https://www.propertywire.com/news/uk/half-uk-landlords-optimistic-outlook-buy-let/
Leave a Reply