The average portfolio size of a landlord is now 14.1 properties, up from 12.9 at the start of the year, says Paragon Mortgages.
This time a year ago, the average portfolio size was 12.5 properties.A fifth (21%) of landlords who took part in Paragon’s quarterly Private Rented Sector Trends Survey said that they were planning to add to their portfolios in the third quarter of this year, up from 18% during the same period last year.
Of those landlords who are planning to purchase buy-to-let property in Q3, 49% will be investing in terrace houses.More than a quarter of landlords (26%) expect to buy flats or maisonettes, and 23% plan to purchase semis.
John Heron, Managing Director of Paragon Mortgages, said: “The fact that landlords are planning to make further investments in their property portfolios is positive news. Whilst this will not solve the problems around supply, it will make a valuable contribution.”
David Sansome, Managing Director at Sansome & George said: “With strong demand in the private rental sector we have seen many landlord clients taking advantage of attractive yields and low cost mortgages to expand their portfolios.”
