According to new research, UK Landlords remain “Optimistic” about investing in property even with Brexit uncertainty.
Two thirds are positive about property investment, investment growth and yields, whilst 64% are keen to see growth in the buy-to-let sector in the next 3 years. 13% of UK Landlords are reportedly “Very optimistic”.
The report was commissioned by Cambridge & Counties Bank and included several hundred landlords.
The survey also suggests that a significant number of landlords are using the current market volatility to grow their portfolios with 19% looking to grow their portfolios by a third and 11% want to double it over the next three years. Just 19% of landlords are looking to sell.
However, Brexit remained a key uncertainty for property sector professionals. 40% of UK Landlords surveyed admitted that it tops the list of concerns, primarily because of rising interest rates, a lack of confidence in the stability of leaders and rising levels of tax.
While the buy to let sector is viewed most positively, a similar number of landlords, some 61%, are equally optimistic about student accommodation in terms of growth with 16% being very optimistic. Office buildings and properties are viewed positively by 41% of respondents, although almost a third are not optimistic.
The survey also found a large proportion of landlords are planning on refurbishing their buy-to-let properties, with an average of £10,000 to be spent per home. 11% of landlords claimed they will spend more than £20,000.