- House Prices
The Council of Mortgage Lenders has just undertaken the largest-ever survey of landlords, and the lettings and property management team at Nock Deighton have been sifting through the results.
Dawn Clarke, director of lettings and property management at Nock Deighton, said the survey made for interesting reading.
“The key trend that struck me was that the majority of landlords said they were looking to gradually decrease their property portfolios over the coming years,” she said.
“But interestingly, only 21 per cent of landlords said the reason for wanting to reduce their stock was down to tax changes.
“There was a higher proportion of people blaming tax changes among those with buy-to-let mortgages though, so they are starting to have an effect.”
Dawn said the statistics about landlord profiles gave some useful background into a “typical” landlord.
“According to the survey, half of landlords own their properties outright and 62 per cent own just one property,” she said.
“A typical landlord is over the age of 55 and tends to own properties close to their own home, which seems to fit with our client database.
“Another interesting statistic was that about a quarter of landlords entered the market purely because circumstances worked out that way, rather than it being a strategic financial decision.
“Having said that, the motivation behind many people’s decision to become a landlord was creating a pension pot or future investment, which is definitely the case for lots of our clients.”
For more detailed advice about property investments in Shropshire and Worcestershire, contact Dawn on 01952 290163.