Up to three quarters of landlords expect to see their portfolios increase this year, as Brexit concerns continue to subside.
Recently, the purchasing activity of the buy-to-let market rose up by almost 13% in the month of August, with the sector remaining in pretty good shape as various concerns over Brexit lessens after time.
Activity should continue to grow in the next year as a number of landlords expect to develop their portfolios. Just about three quarters of landlords indicated that they are either likely to purchase more properties following the UK’s conclusion to leave the EU.
Previously, there had been numerous concerns that the modifications to Stamp Duty presented earlier in the year, as well as the referendum vote, may have suppressed the activity in the buy-to-let market. However, the strong boost for the month of August suggests that this is entirely not the case.
The BTL activity in the coming months is also expected to be as high and as promising, since landlords are planning to pile up their portfolios in order to make the most of the recent graduates and the upcoming students moving to London to start university terms or new jobs.
It’s a really great news that the buy-to-let market is still going strong and developing further, and that concerns over Brexit have had little impact on the important sector of the market.
Here in our offices, we have detected an increase in landlords searching for opportunities to grow their portfolios even more and invest in new properties.
The average monthly rental fees spiked in July and are anticipated to rise further, as demand outweighs supply; creating more possibilities for BTL landlords, looking to flourish their investment portfolios in further properties.