Landlords looking for semi-detached homes

A new survey has shown that buy-to-let landlords have started to move away from buying a traditional terraced property.

Research from Paragon Mortgages has shown that a rising number of UK landlords are looking to purchase semi-detached homes. Additionally, a greater number are planning on continued steady growth within the sector.

Purchases

The data revealed that landlords looking to purchase a semi-detached property stood at 35% during the first quarter of 2015, up from 23% during the final quarter of last year. Paragon’s Private Rented Sector Trends survey also showed that the number of landlords looking to be a terraced property was also 35%, down from 67% in the final quarter of 2014.[1]

Of the remaining property types, 30% of landlords said that they were looking to purchase a flat, while 22% said that they were looking at more specific properties, such as HMO’s and multi-unit homes.[2]

Landlords looking for semi-detached homes

Optimism

Pleasingly, the report also indicated that more landlords are optimistic about the future of their buy-to-let investments. John Heron, Paragon’s director of mortgages, said that, ‘the growing proportion of landlords looking to purchase buy to let property sometime soon points to continued, steady growth in the private rented sector.’ He continued by saying, ‘a closer look at interest levels for different property types suggests landlords are taking a broader perspective in order to cater for the wider range of households looking for a suitable home in the rental sector.’[3]

[1-3] http://www.propertywire.com/news/europe/uk-landlords-semi-detached-2015051110491.html?utm_source=twitterfeed&utm_medium=twitter